Bitmine Boosts Ethereum Holdings by Over 32,000 Coins

Bitmine has released its latest holdings update for August 24, which includes significant additions to its Ethereum (ETH) portfolio. The company acquired approximately 32,447 ETH in the last week, bringing its total ETH holdings to over 584,611.

This represents around 4.8% of the total Ethereum supply, according to Bitmine's own estimates. The company is aiming for a strategy known as 'Alchemy of 5%', which involves holding 5% of the total Ethereum supply, and has already achieved around 97% of this target in just over 14 months.

Bitmine also reported that its staked ETH balance was approximately 507,309 ETH on August 23, with a value of around $124 billion at current market prices. The company's staking program has reportedly delivered an annualized return of 2.67% over the last seven days.