Bitmine's Ethereum Holdings Surge to 4.9% of Supply Amid BMNR Stock Decline
Bitmine's ETH accumulation continues as its stock price drops despite nearing a 5% ownership target.
Bitmine's ETH accumulation continues as its stock price drops despite nearing a 5% ownership target. Ethereum (ETH) is trading at $2,487.21, down 1.1% since this brief published. This is an original TLT brief based on reporting by Blockonomi, with live market data added, as of Mon, 12 Oct 2026 22:00:04 UTC.
Bitmine's growing Ethereum holdings could give it significant influence over the network, while its stock performance raises questions about market sentiment toward its accumulation strategy.
- Bitmine now holds 6.03M ETH, worth $15.3B at current prices.
- Company's ETH holdings represent 4.9% of Ethereum's total supply.
- BMNR stock fell to $23.85 despite the ETH accumulation.
- Ethereum price dropped 0.82% to $2514.05 amid broader market weakness.
- BitMine's Massive Ethereum Accumulation Could Trigger Demand Cliff
- Bitmine Increases Ethereum Holdings by 12,532 ETH Amid Bullish Forecast
- Bitmine's Ethereum Holdings Approach 5% of Total Supply
- Bitmine's Ethereum Holdings Surge to 4.9% of Supply Amid BMNR Stock Decline — this brief
Bitmine has continued its 
Ethereum accumulation, adding 12,532 ETH in the past week, according to Blockonomi. This brings the company's total holdings to 6,028,946 ETH, which is currently valued at approximately $15.3 billion.
The company's Ethereum holdings now represent 4.9% of the total supply, nearing its stated 5% accumulation target. This significant holding could give Bitmine considerable influence over the Ethereum network.
Despite the accumulation, BMNR stock declined to $23.85, indicating potential market concerns about the company's strategy or its financial performance.
Ethereum's price dropped 0.82% over the past 24 hours to $2514.05, contributing to a 7.06% decline over the past week. This occurred amid broader market weakness, with the total crypto market cap remaining flat at $2.87 trillion.
The Fear & Greed Index currently stands at 69, indicating 'Greed' in the market. 
Bitcoin also experienced a 0.73% decline over the past 24 hours.
Since this brief published about 1 hour ago, Ethereum (ETH) has moved from $2,514.05 to $2,487.21 — -1.07%.
The chart plots ETH's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 ETH ≈ ₦3.40M (about $2,487.21), down 1.6% over 24 hours. The naira itself trades about 2.7% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Bitmine's Ethereum Holdings Surge to 4.9% of Supply Amid — questions & answers
How much Ethereum does Bitmine currently hold?
Bitmine holds 6,028,946 ETH, worth approximately $15.3 billion at current prices.
What percentage of Ethereum's supply does Bitmine control?
Bitmine's Ethereum holdings represent 4.9% of the total supply.
Why did BMNR stock decline?
The exact reason for the stock decline is unclear, but it may reflect market concerns about Bitmine's accumulation strategy or financial performance.
How much is 1 Ethereum worth in naira today?
About ₦3.40M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $2,487.21. The naira price moves with both ETH's US-dollar price and the USDT/NGN rate; use our Ethereum in naira page for any amount.
Has Ethereum's price moved since this brief was published?
ETH is down 1.07% since this brief first published — trading at $2,487.21 now versus $2,514.05 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Blockonomi. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.