PiCK
BitMine Buys 12,500 More Ether Worth $33.65 Million, Raising Holdings to 4.9% of Total Supply
Suehyeon Lee
Summary
- BitMine said it bought an additional 12,500 ETH worth $33.65 million.
- OnchainLens estimated that BitMine’s Ether holdings have reached about 4.9% of total supply.
- BitMine said it is nearing its 5% target under the "Alchemy of 5%" plan.
Forecast Trend Report by Period
BitMine, an Ethereum treasury company, bought an additional $33.65 million of Ether, moving closer to its goal of securing 5% of the token’s total supply.
OnchainLens said on Oct. 6 that BitMine purchased and received 12,500 ETH from crypto custodian BitGo.
The newly acquired Ether was valued at about $33.65 million at the time of the transaction.
OnchainLens estimated that the purchase lifted BitMine’s holdings to about 4.9% of Ethereum’s total supply of 122.1 million ETH.
BitMine has steadily expanded its Ether holdings under its “Alchemy of 5%” goal of securing 5% of Ethereum’s total supply. With its stake now at 4.9%, the company is close to that target.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.