Bitmine Acquires Over 53K ETH, Now Holds 4.9% of Ethereum Supply
- Bitmine Immersion Technologies has purchased an additional 53,501 ETH, extending its buying streak to 65 consecutive weeks.
- The company’s total holdings now exceed 5.9 million ETH, valued at approximately $14.8 billion based on an Ether price of $2,511.
- Bitmine controls 4.9% of Ethereum’s circulating supply of 120.7 million ETH, nearing its goal of owning 5%.
- Chairman Tom Lee highlighted that Ether, Bitcoin (BTC), and Solana (SOL) have been the top-performing assets since June.
- Bitmine’s NYSE-traded shares (BMNR) rose by 1.3%, reaching $24.09 each, with a nearly 40% increase for the month.
The ongoing acquisition by Bitmine reflects a broader recovery in the crypto market, as institutional interest may grow due to the performance of major assets like Ether. The company’s strategy positions it well within the competitive landscape of cryptocurrency holdings.
With over 5.9 million ETH, Bitmine is close to achieving its target ownership percentage in Ethereum’s total supply.(Source)
