Bitmine, a cryptocurrency treasury company, announced it will stop buying ether once it reaches 5% of the circulating supply, requiring approximately 100,000 more ETH. The firm currently holds 6,016,414 ETH, representing about 4.9% of the 122.1 million ETH in circulation, with a market value around $15.5 billion. At current prices, acquiring the remaining 100,000 ETH would cost roughly $258 million. Despite holding $643 million in cash and marketable securities, Bitmine faces approximately $4.5 billion in unrealized losses from purchases made during last year’s crypto bull market. Ether fell roughly 5% over the past 24 hours, trading near $2,560.
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