BitMine’s share of Ethereum supply hits 2.9% as firm’s ETH holdings pass 3.5 million
The Block
BitMine's Ethereum holdings reached 3.5 million tokens, representing 2.9% of the total supply after acquiring 110,288 ETH last week.Summary
BitMine Immersion Technologies, the world's second-largest crypto treasury, announced that its Ethereum holdings have increased to 3.5 million tokens, constituting 2.9% of the total ETH supply. Chairman Thomas Lee stated they acquired 110,288 ETH in the past week, a 34% increase from the prior week, moving them closer to their goal of holding 5% of the ETH supply. At current prices around $3,528.37, BitMine's 3.5 million ETH is valued at approximately $12.3 billion. The company, whose shares trade under ticker BMNR, also reported cash holdings of $398 million and ownership of 192 BTC. This development occurs as the total market cap for crypto treasuries holding BTC, ETH, or SOL has been declining over the last month.
(Source：The Block)