# BitmineAdds20KEtherOnly380KShyOf5%Target

Bitmine Just Gobbled Up Another 20,000 ETH – The 5% Target Is Almost Here! 🐋🔥

In a move that has the entire crypto community watching with bated breath, Bitmine has struck again. On-chain data from June 16 reveals that the institutional giant quietly purchased another 20,000 ETH via FalconX, valued at approximately $35.85 million. This isn't just a routine accumulation—it's a strategic march toward dominance.

Here's where things get truly staggering. Bitmine's total Ethereum holdings have now surged past 5.62 million ETH, representing a whopping 4.67% of the entire ETH supply. Let that number resonate: one single entity now controls nearly 5% of all Ethereum in existence. And they aren't stopping there. With only 380,000 ETH remaining to hit their ambitious 5% target, the finish line is tantalizingly close.

How did they amass such a fortune? Through sheer financial firepower. Over the past year, Bitmine has executed roughly 50 equity offerings, raising a colossal $19.2 billion to fuel their ETH accumulation spree. This isn't speculation; it's calculated, large-scale conviction in Ethereum's long-term future.

But here's the kicker over 85% of their holdings are staked. That means the lion's share of their ETH is locked up, securing the network and generating an eye-watering annualized staking income of approximately $230–296 million. They aren't just holding; they're earning passively while they wait.

And the momentum doesn't end there. Bitmine is expected to be included in the Russell 1000 Index by the end of June a milestone that could trigger at least $2.15 billion in passive buying from index-tracking funds. This institutional seal of approval could send ETH prices soaring further.

Bitmine's relentless accumulation is reshaping Ethereum's supply dynamics. The countdown to 5% has begun watch this space.