High Alert

Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target

Written and edited by the WorldPing NewsdeskPublished Updated Original reporting: Decrypt
Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' TargetWorldPing
Image via Decrypt.

What happened

The purchase lifts Bitmine's stash past 6 million ETH—4.9% of supply and 99% of the way to its "Alchemy of 5%" goal—as chairman Tom Lee says Ethereum is "dwarfing" other macro assets.

Key facts

  • The purchase lifts Bitmine's stash past 6 million ETH—4.9% of supply and 99% of the way to its "Alchemy of 5%" goal—as chairman Tom Lee says Ethereum is "dwarfing" other macro assets.
  • Reported by Decrypt and published Mon, 05 Oct 2026 14:54:17 UTC.

Why it matters

Digital-asset markets react to catalysts within minutes, and liquidity, ETF flows and regulatory signals are usually what decide whether a move sticks.

What to watch next

  • Whether spot volume and open interest confirm the move
  • Liquidation clusters around the current price
  • ETF flow data and any regulatory follow-up

Coverage timeline

When each newsroom published on this story, oldest first — all times UTC.

  1. Tom Lee says ether ‘dwarfing other macro assets’ as Bitmine adds 15,112 ETH

  2. Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target

  3. Tom Lee’s Bitmine Nears 5% of Ether Supply With $41M ETH Buy

Sources

The original report was published by Decrypt. WorldPing does not claim that reporting — this page summarises and contextualises it.

Read the full report at Decrypt

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Related WorldPing coverage

Tom Lee’s Bitmine Nears 5% of Ether Supply With $41M ETH BuyWorldPing
Bitcoin.com

Tom Lee’s Bitmine Nears 5% of Ether Supply With $41M ETH Buy

Publicly traded ether treasury firm Bitmine Immersion Technologies announced Monday that it has edged closer to its stated goal of obtaining 5% of the circulating ETH supply, adding about $41 million worth of the cryptocurrency to its holdings over t…

Brief by WorldPing · Original reporting by Bitcoin.com