BitMine Holds 6.03M ETH as Buying Nears 5% Supply Target

BitMine Immersion Technologies has acquired 12,532 ETH over the past week, bringing its Ethereum holdings to 6,028,946 tokens, or approximately 4.9% of the cryptocurrency’s circulating supply. The company’s October 12 announcement indicates that its accumulation strategy is nearing its 5% target, while management has signaled that most planned purchases are complete. The shift could change how investors assess BitMine’s future demand for Ethereum. According to BitMine’s October 12 announcement , the company held 6,028,946 ETH as of October 11, valued at approximately $15.34 billion using its stated price of $2,544 per token.