BitMine Closes in on 5% Ethereum Accumulation Goal with $17B Treasury
BitMine, considered the company with the world's largest Ethereum treasury, has continued its accumulation of ETH. In one week alone, BitMine acquired an additional 27,562 ETH, bringing their total assets to 5.98 million ETH as of September 20.
This move brings them closer to their goal of accumulating 5% of the Ethereum supply, which is approximately 6.105 million ETH based on a total supply of 122.1 million ETH. Currently, BitMine's holdings represent about 98% of their target, with only around 121,000 ETH remaining to reach the 5% mark.
The company also has over $13.6 billion in staked ETH, with approximately 5 million of those being held in reserve. The total value of BitMine's crypto assets, including cash and marketable securities, is around $17.1 billion.