Bitmine’s Ethereum Purchase Nears 5% Supply Target
- Bitmine acquired an additional 28,086 Ethereum last week, valued at approximately $70 million.
- The company’s total crypto holdings are now valued at $15.7 billion, including about $14.8 billion in Ethereum.
- Bitmine has staked around 85% of its Ethereum, projecting annual staking revenue of $330 million.
- The latest purchase brings Bitmine’s holdings to approximately 5.93 million ETH, nearing their goal of owning 5% of the total supply.
Bitmine continues its aggressive acquisition strategy, consistently purchasing Ethereum since June, aiming for significant market influence by owning a substantial portion of the cryptocurrency’s supply.
With this week’s purchase, Bitmine is now only a small percentage away from achieving its target ownership of Ethereum’s supply, reinforcing its position as a major player in the crypto market. Source
