Published: Nov 24, 2025 at 20:13
BitMine Immersion Technologies (NYSE AMERICAN: BMNR) announced on November 24th that its holdings of Ethereum (ETH) have reached 3.63 million tokens, equivalent to 3.0% of the entire ETH network supply.
The ‘Alchemy of 5%’ and institutional backing
The announcement by BitMine, a publicly traded company focused on long-term digital asset accumulation, underscores its relentless, aggressive accumulation strategy.
In the week leading up to the report, the company acquired an additional 69,822 ETH tokens, continuing its rapid pace toward its stated goal of reaching an “Alchemy of 5%” of the total ETH supply.
The company’s total crypto and cash holdings now stand at $11.2 billion, placing it as the #2 global crypto corporate treasury, trailing only Strategy Inc. (MSTR). This level of dedicated capital allocation into Ethereum is unprecedented in the public markets, validating ETH as a core, long-term store-of-value and infrastructure asset for major corporations.
A TradFi seal of approval
The strategy remains strongly backed by a “premier group of institutional investors,” including ARK’s Cathie Wood, Founders Fund, Bill Miller III, and Fundstrat’s Thomas “Tom” Lee. This deep institutional support confirms that major Wall Street players see the corporate treasury model as a viable, regulated path to gaining large, strategic exposure to the Ethereum ecosystem.
BitMine also detailed plans to launch the “Made in America Validator Network (MAVAN)” in early 2026, which will provide secure staking infrastructure for its growing ETH reserves, optimizing the treasury for network yield and security.
BitMine’s consistent, high-velocity accumulation demonstrates an unwavering institutional commitment to Ethereum, even as the asset class faces short-term macroeconomic headwinds.