BitMine Blazes Past 6 Million Ethereum

BitMine has surpassed 6 million Ethereum in its holdings, bringing it closer to its goal of holding 5% of the entire supply. According to a company statement, BitMine's Ethereum holdings rose to 6.001.302 ETH as of September 27, after adding 17.362 ETH last week.

The company has about 104,000 ETH left to reach its target of 6.105 million ETH, which would account for one out of every 20 ETH in circulation. This represents approximately 4.9% of the total supply of 122.1 million ETH cited in the statement.

BitMine also reported that 84% of its Ethereum holdings are staked, used to contribute to the network's validation process. The company's total crypto assets, cash, marketable securities, and other investments amount to $17.2 billion.