BitMine Nears Goal of Holding 5% of Ethereum's Total Supply

BitMine has purchased an additional 27,180 Ether, bringing its total holdings to 5.96 million ETH. This represents about 4.9% of Ethereum's total supply, with the company aiming for a 5% stake.

In order to reach this goal, BitMine would need to hold around 6.1 million ETH, just 150,000 more than its current holdings. The company has already staked about 85% of its total Ethereum holdings, or 5.07 million ETH, for a potential return.

BitMine's total assets, including digital assets and cash, amount to around $15.8 billion. This figure is likely comprised of a mix of Ether and other cryptocurrencies, as well as cash reserves and investments.