Bitmine Expands Ethereum Treasury With Another 9,587 ETH

Bitmine acquired 9,587 ETH for approximately $20.4 million, according to Crypto Economy, increasing its Ethereum treasury to 6.07 million tokens. The company now controls a supply concentration that both Crypto Economy and Decrypt place at 4.97%, just below 5% of Ethereum’s circulating supply. Decrypt said the new position puts Bitmine 99% of the way toward its “Alchemy of 5%” goal. Crypto Economy separately reported that Bitmine held 5.23 million staked ETH, underscoring that most of the treasury was tied to staking rather than remaining entirely liquid. The two outlets agree on the scale of the purchase and the resulting concentration. Crypto Economy emphasizes the precise token count and acquisition value, while Decrypt focuses on proximity to the company’s 5% objective. Their descriptions of Chairman Tom Lee’s response also differ slightly in emphasis: Crypto Economy connects his comments to the investment case for ETH as a store of value, while Decrypt highlights his view of Vitalik Buterin’s money-related comments as a major change in Ethereum’s public narrative.

At 6.07 million ETH, Bitmine’s treasury represents nearly one twentieth of Ethereum’s circulating supply. Its reported 5.23 million staked tokens form the majority of that position, making staking activity a central part of the holding strategy. The purchase also adds to the company’s stated ambition of reaching a 5% allocation. Ethereum was trading at $2,132.15, up 0.63% over 24 hours but down 5.33% over seven days, with a market capitalization of $260.56 billion. The broader crypto market was flat at $2.57 trillion, while Bitcoin gained 0.87% over 24 hours and the Fear & Greed Index stood at 32, indicating a Fear reading. The development matters because it combines a new supply-concentration milestone with a large staked position. The next closely watched measures are Bitmine’s remaining distance to 5% and how its holdings continue to change through acquisitions and staking activity; the supplied data do not indicate whether further purchases are scheduled.