Bitmine acquired 32,447 ETH last week for approximately $81 million, bringing its total holdings to 5,847,611 ETH, valued at around $15 billion as of August 23. The company is now approximately 187,000 ETH away from its self-imposed target of owning 5% of Ethereum’s total supply, which stands at roughly 120.7 million tokens. Ethereum posted its largest weekly gain in over a year, rising 31.5% over seven days, with the price trading just under $2,500. Bitmine stakes 87% of its ETH, totaling 5,067,309 tokens, and projects annual staking revenue of $330 million.
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