Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target
Published . Updated .
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.
Directly affected
- No company is named in this report.
Indirectly affected
- IBIT iShares Bitcoin Trust
This price moves with the crypto market
- COIN Coinbase
The crypto exchange moves with trading volumes
- MSTR Strategy
This company's value is tied to its bitcoin holdings
- MARA MARA Holdings
Bitcoin miners move with the bitcoin price
- RIOT Riot Platforms
Bitcoin miners move with the bitcoin price
- HOOD Robinhood
Retail trading apps move with crypto volumes
- ETHA iShares Ethereum ETF
GA selected ETHA as a RELATED security because its canonical security name directly matches this event's themes: ethereum. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
- BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF
GA selected BTCZ as a RELATED security because its canonical security name directly matches this event's themes: target. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
- DOGG FT VEST DJIA DOGS 10 TARGET INCOME ETF
GA selected DOGG as a RELATED security because its canonical security name directly matches this event's themes: target. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
- ETHW BITWISE ETHEREUM ETF
GA selected ETHW as a RELATED security because its canonical security name directly matches this event's themes: ethereum. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
Price reaction, T-5 to T+3
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.
Source: Decrypt
The price since 5 Oct 2026: iShares Ethereum Trust ETF (ETHA) versus the S&P 500
Since the first closing price after “Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target,” iShares Ethereum Trust ETF (ETHA) is -11.14%. The S&P 500 fund (SPY) is -1.60% over the same days, a -9.53% difference versus the market.
Who gains and who loses around iShares Ethereum Trust ETF (ETHA)
Companies carried with this story
- ETHA iShares Ethereum Trust ETF
iShares Ethereum Trust ETF (ETHA) is linked, with no stored direction, medium confidence in the 5 Oct 2026 story “Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target.” Reason on file: GA selected ETHA as a RELATED security because its canonical security name directly matches this event's themes: ethereum. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- BTCZ T-Rex 2X Inverse Bitcoin Daily Target ETF
T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) is linked, with no stored direction, medium confidence in the 5 Oct 2026 story “Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target.” Reason on file: GA selected BTCZ as a RELATED security because its canonical security name directly matches this event's themes: target. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- DOGG Ft Vest Djia Dogs 10 Target Income Etf
In “Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target,” Ft Vest Djia Dogs 10 Target Income Etf (DOGG) is linked, with no stored direction, medium confidence. Reason on file: GA selected DOGG as a RELATED security because its canonical security name directly matches this event's themes: target. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- ETHW Bitwise Ethereum ETF
For “Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target,” Bitwise Ethereum ETF (ETHW) is linked, with no stored direction, medium confidence. Reason on file: GA selected ETHW as a RELATED security because its canonical security name directly matches this event's themes: ethereum. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- FGSI Ft Vest Growth Strength & Target Income Etf
Ft Vest Growth Strength & Target Income Etf (FGSI) is linked, with no stored direction, medium confidence in the 5 Oct 2026 story “Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target.” Reason on file: GA selected FGSI as a RELATED security because its canonical security name directly matches this event's themes: target. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- ITDB Ishares Lifepath Target Date 2030 Etf
Ishares Lifepath Target Date 2030 Etf (ITDB) is linked, with no stored direction, medium confidence in the 5 Oct 2026 story “Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target.” Reason on file: GA selected ITDB as a RELATED security because its canonical security name directly matches this event's themes: target. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
iShares Ethereum Trust ETF (ETHA)
“Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target” (5 Oct 2026) reaches iShares Ethereum Trust ETF (ETHA) through this story.
For iShares Ethereum Trust ETF (ETHA), the reason on file says GA selected ETHA as a RELATED security because its canonical security name directly matches this event's themes: ethereum. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
A second company, T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ), is listed for a different reason: GA selected BTCZ as a RELATED security because its canonical security name directly matches this event's themes: target. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
The price range for iShares Ethereum Trust ETF (ETHA), and the dates in the story
BTCZ traded between 2.69 and 3.21 across 20 sessions. The latest close on file is 3.06. DOGG traded between 20.68 and 22.21 across 20 sessions. The latest close on file is 21.99. ETHA traded between 19.89 and 61.65 across 20 sessions. The latest close on file is 54.10.
How strong the case is around iShares Ethereum Trust ETF (ETHA)
46 out of 100
“Bitmine Buys $41M More Ethereum, Reaching 99% of Its 'Alchemy of 5%' Target” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.