BitMine Nears 5% Ethereum Ownership Target with 6 Million ETH Haul

BitMine Immersion Technologies has made significant strides in its goal of owning 5% of all Ethereum in circulation. According to WuBlockchain, the company acquired 15,112 ETH over the past week, bringing its total holdings to 6,016,414 ETH as of October 4. This acquisition has pushed BitMine's holdings past 6 million ETH, a milestone that puts the company 99% of the way toward its target.

The company's total holdings now equal roughly 4.9% of Ethereum's full supply, with over 5 million of those tokens staked. BitMine's total portfolio, which includes cash, marketable securities, and other investments, was valued at $17.4 billion as of its latest update.