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Bitmine Immersion Technologies (BMNR) has disclosed Ethereum ($ETH) holdings of 5.62 million tokens — equivalent to 4.66% of the total circulating supply of 120.7 million — with combined cryptocurrency and cash assets reported at $10.4 billion.
In eleven months, the company says it has covered 93% of the distance toward its stated "5% Alchemy" objective, a concentration target that few single entities have approached in any major digital asset.
Bitmine also appears on Fortune's 2026 Crypto 100, described as a benchmark ranking of leading companies in the sector.
What "5% Alchemy" Actually Means Controlling 5% of any asset's total supply is unusual outside sovereign wealth or central bank contexts.
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