Bitmine Closes in on Ethereum Supply Target with $11.6 Billion Treasury

Bitmine Immersion Technologies is on track to achieve its ambitious goal of acquiring 5% of Ethereum's total supply. The company's treasury has reached 5.81 million tokens, representing about 4.8% of the 120.7 million ETH supply.

To put it into perspective, Bitmine would need an additional 230,000 ETH to reach its target.

The company's total holdings, including cryptocurrencies, cash, marketable securities, and 'moonshot' investments, were valued at $11.6 billion as of the latest data available.