Ether's rally adds $3.5 billion to BitMine's balance sheet in seven days

Tom Lee’s BitMine Immersion Technologies added 32,447 Ether last week. That takes its stash to 5,847,611 ETH, around 187,000 tokens shy of a 5% stake in Ethereum’s supply.

BitMine is the largest corporate buyer of the asset. Ether logged its biggest weekly increase in over a year.

BitMine buys 32,000 ETH a week toward the “Alchemy of 5%”

The amount of Ethereum in circulation is about 120.7 million tokens. That puts the 5% milestone at around 6.04 million ETH.

BitMine’s 5.85 million holdings account for about 4.84% of supply. The firm requires another 187,000 to cross the line Lee has branded the “Alchemy of 5%.”

If the buying continues at a recent pace of about 32,000 ETH per week, that difference could close in a couple of months. The timeline stays subject to board discretion and market conditions.

Lee’s team has bought Ether every week, without a break, since it kicked off its Ethereum Treasury Strategy on June 30, 2025.

Hitting the 5% target would hand BitMine no say in the network. Owning 6.04 million ETH grants no control over Ethereum’s transactions, upgrades, or governance.

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