BitMine acquired 85,948 ethers for approximately $215 million in two weeks, bringing its reserves to 5,901,112 ETH, representing nearly 4.9% of Ethereum’s circulating supply. The publicly traded company, led by chairman Tom Lee, is now just 134,000 ethers short of its symbolic 5% target under its « Alchemy of 5% » strategy, which amounts to roughly $337 million at current prices. BitMine simultaneously earns nearly 90,000 ethers per year through staking 86% of its holdings, allowing it to grow its exposure without consistently entering the market. The group’s total treasury now stands at approximately $15.6 billion.
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