Crypto
BitMine Nears 5% Ethereum Supply Target with Latest Massive ETH Purchase
BitMine Immersion Technologies has continued its buying streak by adding 53,501 Ether to its holdings. This purchase brings the company's total holdings to approximately 5.9 million ETH.
The Connecticut-based company now holds about 4.9% of Ethereum's total supply, putting it within 0.1 percentage point of its 5% treasury target.
BitMine valued its combined cryptocurrency, cash and equity holdings at around $15.6 billion, with 5.07 million ETH worth roughly $12.7 billion currently staked to earn staking rewards.