BitMine Buys 5,000 More Ether, Raising Holdings to 4.96% of Total Supply
Summary
- BitMine said it bought an additional 5,000 Ether (ETH), valued at about $11.22 million.
- The purchase lifted BitMine’s Ether holdings to 6.065 million tokens, worth about $13.7 billion.
- BitMine’s Ether holdings now account for about 4.96% of total circulating supply, drawing attention to possible further purchases and institutional demand.
Forecast Trend Report by Period
BitMine, led by Tom Lee, has bought additional Ether, bringing its holdings to nearly 5% of the token’s total supply.
On-chain analytics firm Lookonchain said on November 2 that BitMine bought another 5,000 Ether roughly six hours earlier. The purchase was worth about $11.22 million.
The latest buy lifted BitMine’s total Ether holdings to 6.065 million tokens. The position is now valued at about $13.7 billion.
BitMine’s Ether holdings now account for about 4.96% of circulating supply, putting the company close to the 5% threshold.
BitMine has adopted Ether as a core treasury asset and has steadily increased its holdings. The latest purchase continues that Ether-focused accumulation strategy.
With BitMine’s Ether holdings nearing 5% of total supply, attention is turning to whether it will keep buying and what that could mean for institutional demand for Ether.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.