Bitmine Nears Goal of Controlling 5% of Ethereum Supply With $11.8 Billion Treasury
Decrypt·
60-second summary
Bitmine is nearing its goal of controlling 5% of the Ethereum supply, currently holding 5.79 million ETH, which equals 4.8% of the circulating supply, valued at $11.8 billion. The company is expanding its staking operations and share buyback program, indicating a significant increase in its Ethereum holdings, potentially leading to increased influence in the network and market stability concerns.
The company says it now holds 5.79 million ETH, equal to 4.8% of the cryptocurrency's circulating supply, while expanding its staking operations and share buyback program.