Ethereum treasury company BitMine Immersion Technologies (BMNR) continued its aggressive accumulation strategy last week, adding 42,197 ETH to its balance sheet as it edges closer to controlling 5% of Ethereum’s circulating supply. The latest purchase brings BitMine’s total holdings to 5.74 million ETH, valued at approximately $10.3 billion at current market prices. However, Ethereum has underperformed over the past 24 hours and risks dropping below $1,700 in the near term. BitMine nears 5% Ethereum ownership goal According to blockchain analytics platform Arkham, BitMine now owns roughly 4.75% of Ethereum’s circulating supply. https://twitter.com/arkham/status/2074187046042714122 Based on current market prices, the company would need to acquire approximately $523.
Source: Read the original article
