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5.78 million $ETH tokens sit on Bitmine Immersion Technologies' (BMNR) balance sheet, equal to 4.8% of the cryptocurrency's total reported supply of 120.7 million coins.
The two figures reconcile: 5.78 million divided by 120.7 million is 4.79%, which Bitmine rounds to 4.8%. Total crypto and liquidity holdings, including positions beyond ETH, stand at $11.5 billion, reported.
Progress toward the Alchemy of 5% Bitmine has given its accumulation campaign a name: "Alchemy of 5%." The target is 5% ownership of the total ETH supply.
At 4.8%, and with 12 months of buying behind it, the company has reached 96% of that stated goal. The math: 5% of 120.7 million coins equals approximately 6.04 million tokens.
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