Bitmine Eyes Final 0.2% of Ethereum Supply to Complete 'Alchemy' Strategy
Analysis
Price Impact
HighBitmine's aggressive accumulation of 5% of ethereum's total supply is a significant bullish signal, indicating strong conviction from a major player. this large-scale buying pressure, especially as they approach their target, can create demand and potentially drive up the price. the mention of the eth/btc ratio rising and tom lee's analysis linking it to investor anticipation of ethereum's utility and regulatory clarity (clarity act) further supports a positive outlook. the news also highlights that eth is actively being used for real-world transactions by major companies, reinforcing its utility.
Trustworthiness
MedPrice Direction
BullishThe primary driver for a bullish outlook is bitmine's determined accumulation of a substantial portion of eth supply. this, coupled with the rising eth/btc ratio and analyst commentary suggesting investors are pricing in utility and potential regulatory clarity, points towards upward price pressure. the ongoing use of ethereum for real-world transactions by large corporations further bolsters its fundamental value proposition.
Time Effect
LongWhile the immediate impact of such accumulation can be felt in the short term through increased demand, the long-term implications are more significant. bitmine's strategy is designed to achieve a long-term goal of controlling 5% of the supply. the potential regulatory clarity (clarity act) and the increasing real-world utility of ethereum are factors that will play out over a longer horizon, shaping the coin's future value and adoption.
Original Article:
Article Content:
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Crypto giant Bitmine Immersion Technologies has entered the final stretch of its 12-month "Alchemy 5%" operation to aggressively absorb Ethereum , according to a fresh corporate announcement . Advertisement The company's latest operating report for July 6 shows that the plan is 95% complete. Bitmine has accumulated 5.74 million ETH tokens — a colossal 4.8% of the coin's entire global supply of 120.7 million ETH. To finalize its historic goal and take control of 5% of the world's second-largest cryptocurrency, the holding company has only a symbolic 0.2 percentage points left to buy from the market. Bitmine's total assets, together with cash and venture projects, have surged to $11.1 billion, and those billions are working at full capacity: 4.88 million ETH have been deployed into staking through the company's own U.S. validator network, MAVAN. HOT Stories Bitcoin Plunges as Strategy Sells $225 Million Worth of BTC Binance XRP Scarcity Index Hits Highest Level Since 2024; 114 Billion Shiba Inu (SHIB) Flood Into Never-Seen-Before Wallet; Bitcoin Is the 'US of Money,' Strategy CEO Declares - Morning Crypto Report Right now, this infrastructure is generating Bitmine a clean passive income of $235 million to $277 million per year. Advertisement Why Ethereum is gaining ground against Bitcoin: Tom Lee breaks down At the same time, ETH began gaining ground against Bitcoin, as the ETH/BTC ratio chart moved sharply higher. Bitmine chairman Tom Lee, co-founder of Fundstrat, immediately reacted to this surge by publishing a revealing chart. According to him, this rally is a direct signal that large investors have started pricing in Ethereum's real utility . While there remains widespread skepticism around $ETH , the rise in the ratio of ETH/BTC signals investors are anticipating improving visibility of "use cases" for crypto This is a good thing https://t.co/qJm1U1Lyoy — Thomas (Tom) Lee (not drummer) FundstratDirect.com (@fundstrat) July 6, 2026 Lee openly linked the coin's dynamics to expectations around the Clarity Act, which is supposed to recognize ETH as a legal digital commodity under the CFTC's umbrella and permanently free the project from SEC scrutiny. As his main argument, Lee pointed to the fundamental case: the Ethereum network is already actively processing USDC stablecoin transactions for payment giants such as Visa and Shopify. Advertisement Against this backdrop, Bitmine's final push toward 5%, despite billions in paper losses, makes BMNR shares the most discussed and risky proxy instrument on Wall Street. You Might Also Like Mon, 07/06/2026 - 13:05 Bitcoin Plunges as Strategy Sells $225 Million Worth of BTC By Alex Dovbnya However, this aggressive strategy has another, much harsher side. Because Bitmine spent the entire year buying ETH at an average price above $3,300, while the current price has fallen to the $1,740–$1,800 range, the company's unrealized paper loss broke through the $9 billion to $10 billion mark on July 6. The holding company is effectively locked into its position — it has no debt, while dividends and expenses are covered by live cash flow from staking, but the company's financial result now depends entirely on the future growth of the ETH price. While Bitmine absorbs the risks and keeps accumulating Ether, capital has started moving among other heavyweights in the market. The largest corporate Bitcoin holder — Michael Saylor's Strategy — made a rare move and sold 3,588 BTC for $216 million . Strategy still has 843,775 BTC on its balance sheet, but the very fact of profit-taking against the backdrop of Bitmine's all-out accumulation has forced traders to reassess where major players are now focusing their attention. #Ethereum #Bitmine #Ethereum News