#Bitmine���增持持仓突破601���ETH

Bitmine is getting dangerously close to owning 5% of Ethereum’s total supply — and the latest purchase makes the scale of its strategy even harder to ignore.

Bitmine Immersion Technologies has added another 15,112 ETH, taking its total holdings to 6,016,414 ETH as of October 4. At the reported valuation, that position is worth roughly $16.4 billion, representing around 4.9% of Ethereum’s total supply.

The number itself is impressive, but the consistency behind it is what really catches my attention. Bitmine has now purchased ETH every week for 66 consecutive weeks since launching its treasury strategy in June 2025. This is no longer a one-off corporate allocation or a short-term market bet. It is becoming a clearly defined long-term treasury strategy built around continued ETH accumulation.

And now Bitmine is sitting just below its 5% target.

That changes the conversation. The market is not simply watching another company buy ETH. It is watching a corporate treasury approach a position that would represent roughly one out of every twenty ETH in existence.

The important question is what happens when Bitmine reaches that target.

Does the company slow its purchases? Does it continue accumulating beyond 5%? Does the strategy change once the target is reached? Each possibility could send a different signal to the market.

There is also a bigger question for Ethereum itself.

If companies increasingly begin treating ETH as a long-term treasury asset, consistent institutional accumulation could become an important source of demand. Instead of ETH being held only by traders and individual investors, corporate balance sheets could gradually become another major part of the ownership structure.

But I wouldn't make the mistake of assuming that more ETH held by one company automatically means ETH price must go higher.

The real impact depends on whether this type of accumulation becomes a broader trend. One company reaching 5% is significant, but the bigger structural story would be multiple institutions adopting similar strategies and continuing to accumulate through different market conditions.

That is why the 66-week streak may actually be more important than today's additional 15,112 ETH.

Anyone can make one large purchase when market conditions look attractive. Continuing to buy week after week requires a much stronger conviction in the long-term thesis.

Bitmine's strategy is therefore becoming something worth watching not just for the size of its wallet, but for what it could signal about the changing role of ETH in corporate treasury management.

At 6.016 million ETH, the position is already enormous.

At 4.9%, the 5% milestone is now extremely close.

And once that milestone is reached, I think the market will have a new question to answer:

Was 5% the destination — or just the next step in Bitmine's Ethereum accumulation strategy?

That answer could matter far more than the next weekly purchase.

$ETH $BMNR