Ethereum News Update: BitMine Targets '5% Alchemy' While Ethereum Treasury Exceeds $11.2 Billion

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Ethereum News Update: BitMine Targets '5% Alchemy' While Ethereum Treasury Exceeds $11.2 Billion

Bitget-RWA2025/11/24 21:26

By:Bitget-RWA

- BitMine (BMNR) holds 3.63M ETH (3.0% supply), becoming the world's largest Ethereum treasury with $11.2B in crypto/cash assets. - Recent 69,822 ETH purchase and institutional backing from ARK, Kraken, and Galaxy support its "Alchemy of 5%" goal to acquire 5% ETH supply. - Despite 40% ETH price drop causing $4B unrealized losses, BitMine plans 2026 staking infrastructure launch amid evolving crypto regulations. - As second-largest crypto treasury after MicroStrategy, BitMine's rapid ETH accumulation and l

BitMine Immersion Technologies (NYSE AMERICAN: BMNR) has established itself as the world's largest

Ethereum

treasury, revealing that its

ETH

reserves have reached 3.63 million tokens, which accounts for 3.0% of all Ethereum in circulation. The company’s combined cryptocurrency and cash assets have climbed to $11.2 billion,

fueled by recent acquisitions

and a deliberate emphasis on amassing Ethereum. This achievement is a major step for BitMine, bringing it two-thirds closer to its ambition of holding 5% of the ETH supply—a benchmark it refers to as the "Alchemy of 5%."

Ethereum News Update: BitMine Targets '5% Alchemy' While Ethereum Treasury Exceeds $11.2 Billion image 0

In just the past week, BitMine acquired an additional 69,822 ETH tokens, highlighting its assertive approach to accumulation. The company’s Ethereum assets are valued at $2,840 per token

according to Coinbase rates

, and its portfolio also includes 192

Bitcoin

(BTC) along with $800 million in unrestricted cash. BitMine’s total holdings now rival those of its competitors, making it the world’s second-largest crypto treasury after MicroStrategy (MSTR), which possesses $57 billion in Bitcoin.

BitMine’s strong institutional support further strengthens its standing in the market. The company counts prominent backers such as ARK’s Cathie Wood, Pantera, Kraken, and Galaxy Digital among its investors, as well as Fundstrat co-founder Thomas "Tom" Lee.

Lee pointed out that BitMine’s approach

combines its Ethereum mining activities with capital-raising to create a well-diversified crypto asset base. Meanwhile, the company’s shares

have seen a notable increase in trading activity

, ranking as the 50th most traded stock in the United States with an average daily volume of $1.6 billion over five days.

Despite its rapid expansion, BitMine is not immune to challenges in the wider crypto sector.

Ethereum’s value has dropped by nearly 40%

since its high in August, leading to $4 billion in unrealized losses for the firm. Nevertheless, BitMine’s leadership remains confident, referencing Ethereum’s track record of recovery and the possibility of a "supercycle" upswing. The company also

intends to launch the Made in America Validator Network

in early 2026, a staking platform designed to boost both security and efficiency.

The company’s growth has attracted considerable attention.

Analysts such as Bitwise’s Matt Hougan

point out both the opportunities and risks for digital asset treasury (DAT) companies, noting that most trade below their net asset value (NAV) due to liquidity issues and operational expenses. BitMine, however, sets itself apart with its rapid crypto-per-share growth and robust institutional backing, making it a standout in the DAT sector.

With its annual shareholder meeting planned for January 15, 2026, at the Wynn Las Vegas, BitMine is looking to further cement its influence in the digital asset space.

As regulatory policies continue to develop

— with measures like the GENIUS Act and the SEC’s Project Crypto — the company’s strategy may help shape the direction of the broader crypto industry.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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