Bitmine Nears Goal of Controlling 5% of Ethereum Supply

Bitmine Immersion Technologies (BMNR) recently announced its Ethereum holdings have reached 5.42 million tokens, making up 4.49% of the total ETH supply of 120.7 million.

The company's total crypto and cash holdings now stand at $11.6 billion, with $9.5 billion coming from staked ETH valued at $2,003 per token.

Bitmine's Chairman, Thomas 'Tom' Lee, stated that the company is 90% of the way to achieving its goal of acquiring 5% of the total ETH supply in just 11 months, a milestone known as the 'Alchemy of 5%'.