BitMine's Ethereum (ETH) holdings have reached 6.04 million tokens, equivalent to approximately 4.9% of Ethereum's total supply, according to COINOTAG data published on October 19, 2026.

Derivatives Market Update

In a COINOTAG update issued at 04:56 UTC, derivatives market data added further context to the picture: roughly $87 million in Ethereum futures positions were liquidated over the past 24 hours, with short positions accounting for more than $71 million of that total. Liquidations occur when exchanges close leveraged positions because the margin backing them has fallen below required levels, and short positions are trades designed to profit when an asset's price declines.

Background

Ethereum treasury companies — publicly traded firms that hold ETH on their balance sheets — became a prominent feature of the digital asset market in 2025, following the template established by bitcoin-focused corporate treasuries. BitMine Immersion Technologies announced its Ethereum treasury strategy in July 2025, with a publicly stated goal of acquiring 5% of the ether supply.

The company has since emerged as one of the largest known corporate holders of ETH, and the latest reported figure — 4.9% of total supply — places its stash within reach of that stated target, with roughly 0.1 percentage point separating the company from its goal. A single firm holding nearly one-twentieth of Ethereum's total supply illustrates the degree of concentration the treasury-company model has produced since BitMine announced its strategy in July 2025.

Source

This content was first published on COINOTAG: Bitmine's Ethereum (ETH) Stash Hits 6.04 Million Tokens, 4.9% of Supply