Bitmine Boosts Ethereum Holdings to 6 Million Near 5% Supply Goal

Bitmine Immersion Technologies has significantly expanded its Ethereum holdings, acquiring 15,112 ETH. This purchase brings its total ETH holdings to 6,016,414, which is approximately 4.9% of the 122.1 million circulating supply of Ethereum. The company is nearing its target of holding 5% of Ethereum's supply.

The latest purchase has boosted Bitmine's ETH valuation to roughly $16.4 billion, based on a price of $2,726 per token as of October 4. The company has also staked 5.07 million ETH, contributing to its overall crypto, cash, and marketable securities holdings, which total $17.4 billion.

Following the announcement, Bitmine's shares rose 2.07% to $26.82 on October 5. This move highlights the company's growing focus on crypto treasury accumulation and increased staking exposure, which could have a notable impact on Ethereum liquidity and adoption.