October 5th 2026, 3:15 PM
Bitmine Takes Giant Leap Towards 5% ETH Dominance
Key Summary
Tom Lee's Bitmine Nears 5% of Ether Supply With $41M ETH Buy. The company, a publicly traded ether treasury firm, has added about $41 million worth of ether to its holdings, bringing its total to over $16.2 billion, or more than 4.9% of the current supply. This move brings Bitmine closer to its stated goal of obtaining 5% of the circulating ETH supply. The company's holdings are part of a growing trend of ether treasury firms, with other firms such as Strategy and Strive also announcing BTC buys. The development has been welcomed by the cryptocurrency community, with many seeing it as a positive step towards increasing the security and stability of the Ethereum network.
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Bitmine Nears 5% of Ether Supply With $41M ETH Buy
Publicly traded ether treasury firm Bitmine Immersion Technologies announced Monday that it has edged closer to its stated goal of obtaining 5% of the circulating ETH supply, adding about $41 million worth of the cryptocurrency to its holdings over the last week.Bitmine's ETH Acquisition Strategy
Bitmine said Monday that it obtained an additional 150,000 ETH in the last week, bringing its total holdings to approximately 2.5 million ETH.Market Implications
This significant milestone could have far-reaching implications for the Ethereum market, with some analysts predicting a potential price surge as institutional investors enter the market in larger numbers.#Ethereum#Bitmine#CryptoInvestments#SEC