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Bitmine bought 42,197 Ether, raising its holdings to 5.74 million (4.8% of circulating ETH) as ETH trades near $1,747, highlighting its “alchemy of 5%” goal
Bitmine Immersion Technologies bought 42,197 Ether in the past week, lifting its Ethereum treasury to 5,742,237 ETH—about 4.8% of the circulating supply—and bringing its total crypto‑plus‑cash assets above $11 billion [1]. The purchase comes as Ethereum trades around $1,747, down 1.1% over 24 hours, and follows Strategy’s recent disposal of 3,588 BTC for roughly $216 million.
| At a glance | |
|---|---|
| ETH added | 42,197 ETH |
| Treasury share | 4.8 % of circulating ETH |
| Total crypto‑cash assets | $11.1 billion |
| ETH price | $1,747 (‑1.1 % 24 h) |
Bitmine’s latest acquisition raises its total Ethereum holdings to 5.74 million tokens, valued at roughly $10.27 billion (using the $1,800 price cited in its release) and positioning the firm just shy of its publicly stated “alchemy of 5%” target for 2026 [2]. The company now controls the second‑largest public crypto treasury after Strategy, which recently liquidated Bitcoin. Bitmine also reports 4.88 million ETH staked through its MAVAN validator network, generating an estimated $235 million of annual staking revenue [1][3].
Ethereum’s price sits just below the $1,750 technical threshold identified by analyst Ali Martinez, a level that, if defended, could open a rally toward $1,800–$1,826; a breach would invalidate the bullish TD Sequential pattern [3]. Meanwhile, Strategy’s Bitcoin sell‑off underscores divergent treasury strategies among large public firms, with Bitmine continuing to accumulate ETH while Strategy trims BTC exposure to fund dividends.
Bitmine’s aggressive ETH accumulation underscores a bet on Ethereum’s long‑term value and staking yields, while the contrasting Bitcoin divestiture by Strategy raises questions about how large public treasuries will balance exposure across the leading crypto assets.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 7, 2026 · How we report
BitMine’s treasury holds about 5.74 million ETH, which is roughly 4.7‑4.8% of the circulating supply of approximately 120.7 million tokens.
Around 85% of BitMine’s ETH (about 4.88 million tokens) is staked, generating projected annual staking rewards of roughly $235 million.
Ethereum is trading near $1,750‑$1,780, having gained over 10% in the past week but remaining about 65% below its all‑time high of $4,946.
BitMine’s chairman cites optimism about the potential passage of the U.S. CLARITY Act, with prediction markets indicating about a 48‑50% probability of enactment this year.
Ethereum’s roadmap, dubbed Lean Ethereum, outlines seven major upgrades through 2029, including zero‑knowledge proofs, quantum‑resistant cryptography, faster finality, and a redesigned two‑tier storage system.