BitMine's Biggest ETH Buy in Two Months Brings It Closer to a Major Milestone

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BitMine just posted its biggest weekly ETH buy in more than two months. The company now holds $14.35 billion in ETH. That’s 4.89% of the total ETH supply.

BitMine’s investor relations page confirms holdings reached 5,901,112 ETH as of writing.

Total crypto and cash holdings now sit at $15.6 billion. That figure comes directly from company disclosures, not from on-chain tracking alone.

Arkham’s Numbers Look Smaller

Arkham’s Bitmine entity page currently attributes just $918.19 million in ETH, or 376,968 tokens, across 182 tagged addresses.

BitMine's Biggest ETH Buy in Two Months Brings It Closer to a Major Milestone — *Image Via Arkham.*

That’s a fraction of the company’s reported total. The gap exists because most of BitMine’s ETH sits in custody and staking arrangements that Arkham hasn’t fully linked to the entity yet.

Arkham’s dashboard is a partial, visible slice of on-chain activity, not a substitute for the company’s own reporting.

How Close to 5% BitMine Really Is

The company only needs $324.5 million more in ETH to cross the 5% threshold. That’s the “Alchemy of 5%” goal BitMine set when it launched its ETH treasury strategy 15 months ago.

The company is now 98% of the way there. Techgaged previously reported on this accumulation push back in July, tracking BitMine’s steady weekly ETH purchases as the company closed in on this same milestone month after month.

What the On-Chain Data Does Show

Even the tracked slice tells a story. Arkham’s transfer data shows a steady pattern of ETH moving from whale wallets and Coinbase Prime custody batches into ETH2 Beacon Deposit Contracts over the past month.

Many of those staking deposits route through FalconX, in repeated 1,900 ETH tranches worth about $3.32 million each. That activity lines up with BitMine’s disclosed staking operation.

The company has 5,067,309 ETH staked, worth $12.7 billion, projected to generate roughly $396 million in annualized rewards at scale.

Techgaged also flagged this staking trend earlier this year, when roughly half of all ETH supply moved into staking contracts network-wide.

What Comes Next

BitMine has bought ETH every single week since its treasury strategy began in June 2025.

That streak hasn’t broken once in over a year, based on the company’s own weekly disclosures.

At the current pace, crossing 5% of ETH’s total supply looks like a matter of weeks, not months.

Disclaimer:
This article is for informational purposes only and does not constitute financial, investment, or trading advice. The views expressed are based on publicly available data, market observations, and the author’s interpretation at the time of writing. Cryptocurrency markets are highly volatile and unpredictable, and past performance or current technical setups do not guarantee future results. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions. TechGaged does not accept liability for any losses incurred based on the information presented.

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