Bitmine Eyes 5% Ethereum Supply with 3.43% Held, Appoints Dual CFO/COO
Bitmine has acquired 3.43% of Ethereum's circulating supply, two-thirds toward its 5% accumulation target, underpinned by institutional backers including ARK Invest, Founders Fund and Galaxy Digital. The company reinforced its governance and strategic capacity by appointing finance veteran Young Kim as CFO & COO to drive its token accumulation roadmap.
1. Bitmine Accelerates Toward 5% Ethereum Supply Ownership
Bitmine Immersion Technologies today announced it holds 3.43% of the total Ethereum token supply, representing approximately 4.3 million ETH out of an estimated 125 million tokens in circulation. Backed by institutional investors including ARK Invest’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG and Galaxy Digital, the company is two-thirds of the way to its strategic target of accumulating 5% of ETH (roughly 6.25 million tokens). Management says the next tranche of acquisition will be funded from both free cash flow generated by its Bitcoin mining operations and additional capital raises, with the goal of closing the gap by mid-2026.
2. Noble Analysts Highlight Bit Digital’s Ethereum Treasury Momentum
Noble Capital Markets reiterated an ‘Outperform’ rating on Bit Digital, citing the company’s December Ethereum treasury report. According to analysts, Bit Digital expanded its ETH holdings by 14% during the quarter—from 6,200 tokens at the end of September to 7,060 tokens as of December 31—while generating roughly 180 ETH in staking rewards, equivalent to an annualized yield near 4.5%. The report underscores Bit Digital’s ability to compound its Ethereum position even as network staking competition intensifies.