Bitmine Expands Ether Holdings, Now Owns Nearly 5% of Circulating Supply

Bitmine has increased its Ether holdings by purchasing an additional 10,399 tokens over the past week. This brings the company's total Ether holdings to 5,797,813 ETH, representing approximately 4.8% of the circulating supply.

The purchase was made as part of Bitmine's Ethereum treasury strategy, which it launched on June 30 last year. The company has been buying Ether every week since then and has now reached 96% of its goal of acquiring 5% of the total ETH supply.

Bitmine's digital assets, cash, marketable securities, and strategic investments are valued at $11.3 billion. This includes its 5.8 million ETH holdings, which are worth approximately $10.9 billion at an Ether price of $1,880 per token.