Bitmine Surpasses 6 Million ETH Holdings Amid Crypto Bull Market

Bitmine, an Ethereum treasury company chaired by Tom Lee, has acquired another 17,362 ETH since its last update on September 21. As a result, its total crypto, cash, marketable securities, and other investments now stand at $17.2 billion.

The company's holdings of Ether (ETH) have reached 6,001,302, worth around $16.1 billion at current prices. This represents more than 4.9% of Ethereum's circulating supply, which is approximately 122.1 million ETH.

Bitmine has been accumulating its holdings in under 15 months and now holds the largest stake of any public company in Ethereum. Tom Lee stated that 'we are already seeing the synergies and positive network effects from our accumulating nearly 5% of ETH total supply.'