Bitmine Immersion Technologies, led by Tom Lee, purchased an additional 15,112 Ethereum coins, bringing its total holdings to about 6.02 million ETH, close to 5% of the network's supply. The company has been steadily buying ETH weekly since mid-2025 as part of its treasury strategy, aiming to reach this 5% threshold to boost institutional interest and network effects. With Ethereum valued at around $2,698 per coin, Bitmine's ETH holdings are worth approximately $16.2 billion, making up the majority of its $17.2 billion total assets. The firm also earns staking rewards and holds other assets, but its value is closely tied to ETH's price movements. Bitmine is expected to continue its accumulation to fully reach the 5% target soon.
Bitmine's Ethereum holdings total about 6.02 million ETH, nearing 5% of the network's supply. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 05, 2026 20:03 WIB: out of 50 major cryptocurrencies, 31 rose and 17 fell. Notable movers include SXP (Solar) down 46.27% to Rp37 with a typical hold time of 94 days, ADA (Cardano) up 11.25% to Rp4,875 with 38% sell and 62% buy order activity and a typical hold time of 126 days, and BAL (Balancer) up 11.14% to Rp16,297 with a typical hold time of 85 days.
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