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Bitmine Immersion Technologies (BMNR) has announced that its Ethereum holdings have reached 5.62 million tokens, equivalent to 4.66% of $ETH's total circulating supply of 120.7 million tokens.
Combined with cash, the company's total crypto and cash reserves now stand at $10.4 billion.
The disclosure comes as Bitmine says it has traveled 93% of the distance toward a self-imposed threshold it calls "the alchemy of 5%" — all within 11 months.
What "5% Alchemy" Actually Means Owning 5% of a cryptocurrency's circulating supply is not a regulatory milestone or an industry standard — it is Bitmine's own benchmark for the level of Ethereum concentration it considers strategically meaningful.
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