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Crypto

Bitmine Nears 5% of All Ethereum Amid Aggressive Accumulation Strategy

Guavy AI Editorial Team
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ETH
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Bitmine Immersion Technologies has amassed a $10.4 billion crypto treasury after disclosing its assets, including 5.62 million ETH, representing 4.66% of Ethereum's total supply.

The company added 76,881 ETH over the past week and is maintaining a high pace of purchases despite recent weakness in Ethereum's price.

Bankless co-founder David Hoffman questioned where the next major source of ETH buying would come from after Bitmine's rapid buildup.

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