BitMine Adds 12,532 ETH, Nears 5% Ethereum Supply Target as Buying Slows
BitMine has acquired another 12,532 Ether (ETH) over the past week, bringing its total Ethereum holdings to 6,028,946 ETH and moving the company closer to its target of accumulating 5% of the cryptocurrency’s total supply. The company said it is now 99% of the way toward that goal, while management indicated that its Ethereum buying activity is largely complete.
According to information reported by Wu Blockchain, BitMine’s holdings represent approximately 4.9% of Ethereum’s 122.1 million ETH supply. The latest acquisition adds to the company’s substantial position in the cryptocurrency and places it close to its stated accumulation target.
BitMine Nears Its Ethereum Accumulation Goal
BitMine’s total holdings of 6,028,946 ETH put the company within reach of its goal of owning 5% of Ethereum’s supply. Based on the reported supply of 122.1 million ETH, the target represents a significant concentration of the cryptocurrency in the company’s treasury.
The company said it has completed 99% of its planned accumulation, indicating that it is approaching the end of the buying strategy. Its latest purchase of 12,532 ETH over the past week represents the most recent addition disclosed in the report.
The reported figures distinguish between BitMine’s current holdings and its broader accumulation objective. The company currently owns approximately 4.9% of Ethereum’s supply, compared with its stated target of 5%. The remaining gap is relatively small in percentage terms, although the company has not provided a specific timeline for reaching the goal in the reported information.
Management Signals Purchases Are Largely Complete
Alongside its accumulation figures, BitMine indicated in its forward-looking disclosures that management considers the company to be “largely finished buying ETH.” The statement suggests that the pace of future purchases may slow as BitMine approaches its target.
The wording does not establish that all buying has stopped. Instead, it signals that the company’s large-scale accumulation phase may be nearing completion. Further purchases remain possible, but the reported statement points to a potential change in the pace of additions to its Ethereum holdings.
The distinction is important when assessing BitMine’s future accumulation activity. Reaching 99% of its target suggests that the company is close to its stated objective, while management’s comments indicate that the previous buying pace may not continue. The company has not specified in the reported information when it expects to complete the final portion of its accumulation.
More Than 5 Million ETH Staked
BitMine also reported that 5.07 million ETH of its holdings are currently staked. Staking involves committing cryptocurrency to support the operation and security of a proof-of-stake blockchain network, with participants potentially receiving staking rewards in return.
The reported staking figure represents a substantial portion of BitMine’s total Ethereum position of 6,028,946 ETH. However, the company’s disclosure does not provide additional details about staking arrangements or the returns associated with the staked assets.
Wu Blockchain reported the latest acquisition, total holdings, supply share and staking figures alongside management’s assessment of its buying strategy. BitMine’s reported position stands at approximately 4.9% of Ethereum’s 122.1 million ETH supply, with the company 99% of the way toward its 5% accumulation target and management describing further ETH purchases as largely complete.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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