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Bitmine Immersion Technologies (BMNR) disclosed that it holds 5.78 million $ETH tokens, a stake equal to 4.8% of Ethereum's 120.7 million-token circulating supply, with total cryptocurrency holdings and cash reserves standing at $11.5 billion, the company said.
Closing in on a 5% target Bitmine said the position puts it 96% of the way toward what the company calls the "alchemy of the 5%," a self-set threshold defined as owning 5% of $ETH's outstanding supply.
The company said it covered that distance in 12 months. Two-tenths of a percentage point separates Bitmine from the stated goal, measured against the 120.7 million tokens currently in circulation.
Bitmine did not say in the release how it plans to close the remaining gap, nor what changes operationally once the 5% mark is crossed. The $11.5 billion combined figure covers cryptocurrency and cash.
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