Bitmine Closes In on 5% ETH Ownership Amid $68M Purchase

Bitmine, the company behind BMNR stock, has made its largest Ethereum purchase to date, acquiring 27,180 ETH over the past week.

This brings Bitmine's total Ethereum holdings to approximately 5.96 million coins, representing around 4.9% of the cryptocurrency's total supply.

The purchase puts Bitmine roughly 122,000 ETH short of its goal of holding 5% of the total Ethereum supply.

Despite this milestone, BMNR stock price dipped by about 0.5% on Monday, September 14, due to a broader decline in tech and crypto equities.