BitMine, chaired by Tom Lee, acquired 32,447 ETH over the past week, bringing its total holdings to 5,847,611 ETH as of August 23, representing approximately 4.8% of Ethereum’s total supply of 120.7 million tokens. With ETH price jumping to $2,440, the company’s position is valued at $14.3 billion, up $3 billion from the previous week. This accumulation represents 97% of its so-called « Alchemy of 5 % » strategy, which aims to control 5% of Ethereum’s supply. The firm has also staked over 5 million tokens, representing 87% of its Ethereum treasury and potentially generating $330 million in annualized revenue at a 2.67% yield.
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