Bitmine Reaches 4.47% of Total Ethereum Supply

Bitmine Immersion Technologies (BMNR) has announced that its ETH holdings have reached 5.39 million tokens, representing 4.47% of the total Ethereum coin supply.

The company's crypto and cash holdings now total $12.3 billion, with the majority being held in ETH, which is valued at $2,134 per token.

Bitmine has been steadily acquiring ETH over the past year, reaching 89% of its goal to own 5% of the total ETH supply by 2026.

The company's Chairman, Thomas 'Tom' Lee, stated that the recent pullback in ETH prices has created an attractive opportunity for acquisition, and Bitmine is expected to reach the 'alchemy of 5%' soon.