Bitmine acquires 9,926 Ethereum, boosting total holdings to 5.8M ETH

Bitmine Immersion Technologies has added another 9,926 ETH to its treasury during the week ending August 16, bringing its total Ethereum stash to 5,815,164 ETH. That pile of tokens is worth roughly $11 billion at current prices, and it represents approximately 4.8% of Ethereum’s entire circulating supply of around 120.7 million tokens. The Alchemy of 5% Bitmine has been on a relentless buying spree since launching its accumulation strategy on June 30, 2025. The company has dubbed its target the “Alchemy of 5%,” referring to its goal of controlling 5% of Ethereum’s total circulating supply. With holdings at 4.8%, the finish line is visible. The latest purchase was made at prices ranging from $1,893 to $1,904 per ETH. At those levels, the 9,926 tokens cost the company somewhere in the neighborhood of $18.8 million to $18.9 million. What makes Bitmine’s approach distinct from a simple buy-and-hold strategy is the operational layer built on top of it. The company runs MAVAN, which stands for Made in America Validator Network, a staking platform where over 80-85% of its Ethereum holdings are reportedly staked. Staking generates yield by locking up tokens to help secure the Ethereum netw...