BitMine adds 27,180 ETH, pushing holdings to 5.96 million
Macro & Markets ·
The firm's latest weekly purchase brings its ether stake near 4.9% of total supply, with most of it staked.
Bitmine Immersion Technologies added 27,180 ETH over the past week, according to a report, lifting its total holdings to 5.96 million ETH. The company, led by Fundstrat's Tom Lee, has said the position now represents roughly 4.9% of Ethereum's circulating supply.
The accumulation continues a pattern of steady weekly buying rather than a single large purchase, with the firm treating ETH as a core treasury asset. Reporting on the cluster indicates BitMine is aiming for a target of 5% of all ETH in circulation, meaning the current 4.9% stake leaves only a small gap before that threshold is reached.
Of the 5.96 million ETH held, 85% is staked, according to the same reporting. Staking a large majority of the position suggests the firm is prioritizing yield generation and network participation over liquidity, since staked ETH is subject to withdrawal mechanics rather than being immediately available for sale.
Four distinct sources are covering the same set of figures — the 27,180 ETH weekly addition and the 5.96 million ETH total — indicating the numbers are being consistently reported across the cluster rather than originating from a single account. The consistency across sources adds confidence to the headline figures even though the underlying rationale for the specific 5% target has not been detailed beyond the stated goal.
What remains unclear is the timeline over which BitMine intends to reach the 5% threshold, and whether the pace of weekly accumulation seen with this 27,180 ETH purchase will continue, accelerate, or slow as the company approaches its stated target. Also unaddressed is how the 85% staking ratio might change as holdings grow, and what mechanisms the firm would use to manage liquidity if it needed to reduce its position.