BitMine Snaps Up Over 53,000 ETH Amid Aggressive Accumulation Strategy

BitMine has continued its aggressive acquisition of Ethereum (ETH) tokens, purchasing over 53,000 ETH in the past week alone. This brings its total stash to a staggering 5.9 million ETH, which accounts for approximately 4.9% of the asset's circulating supply.

This purchase is significant because it puts BitMine 98% of the way toward its goal of owning 5% of Ethereum's entire supply. The company has been steadily accumulating tokens since June 30, 2023, with a remarkable streak of 65 consecutive weeks without missing an acquisition.

BitMine now holds more ETH than any other corporate treasury and is second only to Strategy in terms of overall crypto holdings. It continues to stake large amounts of its Ethereum stash, with approximately $12.7 billion staked at current prices.