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<h3>Fireline Report</h3>
<p>Bitmine acquired another 27,316 ETH, bringing its market capitalization to $13.3 billion and representing 2.5% of the total ETH supply, just over halfway to its 5% target. The market interprets this as continued bullish sentiment from institutional investors and strong buying pressure.</p>
<h3>Trading Guide</h3>
<p>Event-driven, pay attention to Bitmine's accumulation pace and ETH's key psychological levels. If it retraces to and breaks below the previous low, be wary of the risk of institutional selling in the short term.</p>
<p style="margin-top: 20px; text-align: left; opacity: 0.4; padding: 0 42px"><small>Updated at 10-30 06:23</small><br><small>AI-generated summary, not investment advice</small></p></div>

<h1>How far is BitMine from its 5% ETH target?</h1><h2> Core Data</h2><table><thead><tr><th> index</th><th> Numerical</th></tr></thead><tbody><tr><td> ETH circulating supply</td><td> 120,698,045 ETH</td></tr><tr><td> BitMine holdings</td><td> 3,340,385 ETH</td></tr><tr><td> BitMine percentage</td><td> 2.77%</td></tr><tr><td> 5% target quantity</td><td> 6,034,902 ETH</td></tr><tr><td> Still need to increase holdings</td><td> 2,694,517 ETH</td></tr><tr><td> Funding is still needed (at ~$3,991/ETH)</td><td> ≈ <strong>$10.76 billion</strong></td></tr></tbody></table><h2> Key conclusions</h2><ul><li> <strong>Currently holding 2.77%</strong> : BitMine controls approximately 3.34 million ETH, representing 2.77% of the circulating supply of 120.70 million ETH. <a href="https://etherscan.io/stat/supply">(etherscan,</a> <a href="https://www.coindesk.com/business/2025/10/27/tom-lee-s-bitmine-imersion-added-another-usd320m-in-ether-bringing-overall-holdings-above-usd14b">coindesk)</a></li><li> <strong>2.23 pp away from the 5% target</strong> : To reach 5% (≈ 6.03 M ETH), approximately <strong>2.69 M more ETH</strong> need to be purchased.</li><li> <strong>The funding gap is approximately $10.8 billion</strong> : Based on the ETH market price of approximately $3,991 on October 30th, BitMine needs to invest an additional approximately <strong>$10.76 billion</strong> to reach its target. <a href="https://finance.yahoo.com/news/why-crypto-down-today-october-122432471.html">(yahoo)</a></li></ul><h2> Further interpretation</h2><ul><li> BitMine has increased its holdings by over 300,000 ETH by October 2025, with a total investment of over <strong>$1.33 billion</strong> . If it maintains the current pace (≈100,000 ETH/week), it will theoretically take <strong>about 27 weeks</strong> to reach its target, with the time window depending on price and liquidity.</li><li> Continued large-scale purchases could drive up the price of ETH and increase costs; if ETH rises to $5,000, the funding gap will widen to <strong>$13.5 billion</strong> , making it more difficult to achieve the target.</li><li> Its high concentration (98% of its assets are ETH) makes its financial performance highly positively correlated with the price of ETH. If the market corrects by 20%, it will result in a book loss of more than <strong>$2.7 billion</strong> .</li></ul><p> <strong>Conclusion</strong> : Based on current holdings and market price, BitMine still needs approximately 2,695,000 ETH and about $10.8 billion in funding to achieve its goal of &quot;holding 5% ETH&quot;. The path to this goal depends on its fundraising capabilities and market liquidity.</p>
