BitMine Nears 5% of Ethereum Supply

BitMine has bought another 27,562 ETH, bringing its total Ethereum holdings to 5,983,940 ETH.

The company now controls roughly 4.9% of Ethereum’s total supply, putting it very close to its target of owning 5% of all ETH.

That’s an unusually large position for a publicly traded company.

BitMine’s Ethereum Strategy

BitMine has been steadily accumulating ETH since launching its Ethereum treasury strategy in 2025.

The company says it has purchased Ethereum every week since the strategy began.

A significant portion of its holdings is also being staked. As of September 20, more than 5 million ETH held by BitMine was staked.

The strategy goes beyond simply holding ETH on a balance sheet.

BitMine is effectively positioning itself as a large-scale institutional Ethereum holder while also generating staking returns from part of its position.

Tom Lee Sees a Strong Q4

BitMine chairman and Fundstrat co-founder Tom Lee has also been pointing to a potentially stronger final quarter for crypto.

Lee believes the current crypto bull market is already underway and argues that Ethereum’s strong performance during Q3 could set the stage for further gains in Q4.

He also expects institutional investors to potentially increase their crypto exposure after remaining relatively underweight during much of 2026.

Whether that happens remains to be seen.

But BitMine is clearly positioning itself for a market in which institutional demand for Ethereum continues to grow.

Looking Toward 2027

BitMine is now only a small step away from its 5% Ethereum target.

If the company continues accumulating at its current pace, its ETH position will remain one of the most closely watched corporate crypto holdings.

For Ethereum, the bigger question is whether other companies follow the same strategy.

More corporate treasuries accumulating and staking ETH could become an important part of the Ethereum story heading into 2027.