BitMine Reaches 97% Mark in Ethereum Holdings Pursuit

BitMine, an Ethereum accumulator led by Tom Lee, has significantly increased its ETH holdings to reach 5.85 million tokens as of August 23.

The company acquired 32,447 tokens over the past week, causing its total value to skyrocket to $14.3 billion, a $3 billion increase from the previous week.

This represents approximately 4.8% of Ethereum's entire 120.7 million token supply, meaning BitMine has completed 97% of its 'Alchemy of 5%' strategy, which aims to control 5% of the altcoin's supply.