Bitmine Reaches 4.9% of Ethereum Supply After 53.5K ETH Purchase
Source Summary
Bitmine has accumulated 53.5K ETH and now controls 4.9% of the total Ethereum supply. The company has maintained its buying strategy for 65 consecutive weeks despite a prolonged crypto downturn and $5.1 billion in paper losses.
Why it matters
Bitmine's sustained accumulation of nearly 5% of Ethereum's supply demonstrates a major institutional commitment to the asset despite significant unrealized losses.
