Bitmine purchased an additional 15,112 ETH, worth approximately $41 million, bringing its total holdings to 6,016,414 ETH, valued at roughly $16.4 billion, representing 4.9% of Ethereum’s total supply. The company says it is 99% of the way to its target called the “Alchemy of 5%,” reached in just 15 months. Chairman Tom Lee called the crypto bull market “underway,” noting Ethereum has outperformed the S&P 500 by 6,832 basis points this quarter despite macroeconomic headwinds. Including cash, other tokens and “moonshot” investments, Bitmine’s total holdings reached $17.4 billion. Bitmine remains the world’s largest Ethereum treasury and the second-largest crypto treasury overall, trailing only Strategy led by Michael Saylor.
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