Bitmine Closes In on 5% Ethereum Supply Milestone with $68M Acquisition

Bitmine (BMNR) has acquired 27,180 ETH worth approximately $68 million in value over the past week. This acquisition brings its total holdings to 5.96 million ETH.

This represents about 4.9% of Ethereum's 122 million supply and requires roughly 144,000 additional tokens to surpass the company's stated 6.1 million token benchmark.

Bitmine Chairman Tom Lee attributes the recent upward trend in the ETH-BTC valuation ratio to Ethereum's expanding function as foundational infrastructure for Wall Street's tokenization initiatives and its prospective application in governing autonomous AI systems.