#BitmineAdds20KEtherOnly380KShyOf5%Target

Bitmine has added another 20,000 ETH to its treasury, bringing its total holdings to approximately 5.62 million tokens. This latest acquisition, valued at roughly $36 million through an over-the-counter transaction with FalconX, places the company just 380,000 ETH shy of its ambitious target to control 5% of Ethereum's total supply

.Led by Fundstrat co-founder Tom Lee, Bitmine has been executing a relentless accumulation strategy throughout 2026.

The company has been purchasing tens of thousands of ETH multiple times per week, with recent notable transactions including a massive 75,000 ETH purchase on June 9 alone. This aggressive approach mirrors MicroStrategy's Bitcoin treasury strategy but applies it to Ethereum, with Bitmine internally referring to this goal as the "Alchemy of 5%."What makes this particularly noteworthy is that approximately 85% of Bitmine's ETH holdings are currently staked, effectively removing a significant portion of circulating supply from the market while generating staking rewards

. The company has indicated that this staking revenue helps support dividend payments on its Series A Preferred Stock, which recently began trading on the NYSE.additional stock to fund further purchases, the firm is positioning itself as a dominant force in Ethereum's ecosystem.

This concentrated accumulation could have meaningful implications for network dynamics and supply dynamics as Bitmine approaches its 5% milestone.
#Bitmine #Ethereum #ETHAccumulation