Bitmine Immersion Technologies has now amassed 3.43% of the entire Ethereum token supply, putting the company roughly two-thirds of the way toward its stated goal of securing 5% of ETH. This milestone reflects an approximate 0.8% increase in the company’s Ethereum holdings over the past quarter, driven by a combination of direct acquisitions on spot markets and strategic swaps of Bitcoin-mining proceeds. With roughly 30 million ETH outstanding, Bitmine’s current stake translates to just over 1.03 million ETH tokens. Institutional backers including ARK’s Cathie Wood, Founders Fund, Pantera and Galaxy Digital are underwriting the company’s ‘Alchemy of 5%’ strategy, which aims to create a critical mass of holding power sufficient to influence network economics and staking yields over the medium term.

Analysts at Noble Capital Markets have reaffirmed an ‘Outperform’ rating on Bit Digital, highlighting the company’s December update on Ethereum treasury growth and staking rewards. According to the report, Bit Digital increased its ETH holdings by approximately 12% since September, bringing its total to just under 50,000 ETH. Concurrently, the firm’s staking operations generated roughly 4,500 ETH in rewards over the past quarter, representing an annualized yield in the mid-4% range. Noble’s team attributes these gains to Bit Digital’s diversified staking infrastructure—spanning both solo and pooled validator nodes—and views the robust reward stream as a key contributor to the company’s revenue stability and long-term value creation in a volatile crypto market.