Ethereum Whale Alert: Bitmine Hits 5.78M ETH, Nearing 5% Network Control

Bitmine has officially cemented its status as a dominant Ethereum treasury powerhouse, reporting holdings of 5.78 million ETH. By adding 7,430 tokens in just one week, the firm now controls nearly 5% of the total Ethereum circulating supply, moving closer to its massive accumulation target.

This aggressive expansion is backed by a sophisticated staking strategy, with 85% of their ETH holdings actively generating yield through validator networks. With a total asset valuation of $11.5 billion—comprising ETH, 207 Bitcoin, and significant cash reserves—Bitmine is positioning itself as a central pillar in the institutional shift toward the Ethereum ecosystem.

Bitmine, the leading Ethereum treasury firm, announced on Monday that its Ether holdings have surged to 5.78 million tokens. This milestone represents approximately 4.8% of Ethereum’s total circulating supply, bringing the company within striking distance of its stated goal to accumulate 5% of all ETH.

According to the latest data, the company added 7,430 ETH to its treasury over the past week. Notably, about 4.9 million ETH—roughly 85% of its total holdings—is currently staked through its validator network and strategic partners to optimize returns. Bitmine's massive balance sheet, valued at $11.5 billion, includes 207 Bitcoin and $385 million in cash and marketable securities. Furthermore, the company continues to support its stock value, having repurchased 5.5 million shares this week as part of its authorized $4 billion buyback program.