BitMine adds 101,745 ETH for $238 million in third straight weekly buy above 100,000 tokens
The Block
BitMine purchased 101,745 ETH for $238 million, marking its third consecutive week acquiring over 100,000 tokens as it nears its 5% supply target.Summary
Bitmine Immersion Technologies has continued its aggressive accumulation of Ethereum, purchasing 101,745 ETH for roughly $237.7 million. This move marks the firm's third consecutive week of acquiring over 100,000 tokens, bringing its total holdings to 5,180,131 ETH, which represents 4.29% of the total circulating supply. The company is now 86% of the way toward its goal of controlling 5% of all Ethereum tokens. Currently, 84% of Bitmine's holdings are staked via its MAVAN platform, generating significant annualized revenue, as Chairman Tom Lee expresses confidence in Ethereum's long-term durability and structural demand from AI systems.
(Source：The Block)