BitMine Reaches for Control of 5% of Ethereum Supply

BitMine Immersion Technologies has become one of the largest corporate holders of Ethereum's ETH by accumulating over 5.9 million tokens, according to recent data.

The company's holdings now represent about 4.9% of Ethereum's total supply of 120.7 million ETH, making it a significant player in the market.

At an ETH price of ~$2,500, BitMine's stake is worth roughly $14.8 billion and puts it within reach of controlling 5% of Ethereum's total supply.

BitMine's chairman, Tom Lee, stated that Ether, Bitcoin (BTC), and Solana (SOL) have been the three best-performing major assets since June 30, with ETH leading the gains.