NewsMV
A July chairman's letter from Bitmine Immersion Technologies (BMNR) put $ETH in focus, with the company disclosing a 4.8% stake in total Ether coin supply and placing itself 96% of the way toward what the chairman calls the "alchemy of 5." The letter frames ETH as the antidote to a phenomenon the chairman labels the "uncanny valley of wealth." The next milestone on the tape is closing that final gap to a five-percent position.
The supply claim at the center of the letter Bitmine states that total ETH coin supply amounts to 120.7 million and that the company's disclosed holding represents 4.8% of that figure.
Both numbers come from the chairman's July message. No custodian confirmation and no on-chain wallet disclosure appear in the sourced summary, and the company states no dollar valuation for the position.
The "uncanny valley of wealth" is the chairman's own terminology. The letter positions conventional treasury assets as failing beyond a certain threshold and presents ETH accumulation as the remedy.
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