How far is BitMine from its 5% ETH target?

Core Data

Key conclusions

• Currently holding 2.77% : BitMine controls approximately 3.34 million ETH, representing 2.77% of the circulating supply of 120.70 million ETH. (etherscan, coindesk)
• 2.23 pp away from the 5% target : To reach 5% (≈ 6.03 M ETH), approximately 2.69 M more ETH need to be purchased.
• The funding gap is approximately $10.8 billion : Based on the ETH market price of approximately $3,991 on October 30th, BitMine needs to invest an additional approximately $10.76 billion to reach its target. (yahoo)

Further interpretation

• BitMine has increased its holdings by over 300,000 ETH by October 2025, with a total investment of over $1.33 billion . If it maintains the current pace (≈100,000 ETH/week), it will theoretically take about 27 weeks to reach its target, with the time window depending on price and liquidity.
• 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 $13.5 billion , making it more difficult to achieve the target.
• 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 $2.7 billion .

Conclusion : 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 "holding 5% ETH". The path to this goal depends on its fundraising capabilities and market liquidity.