Bitmine Buys $30 Million in ETH, Nearing 5% Supply Target
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Bitmine’s latest Ethereum purchase brings its holdings to 6.04 million ETH, putting the company close to its stated target of owning 5% of the supply.
Bitmine has added $30 million worth of Ethereum to its holdings, according to Decrypt. The purchase raises its total stash to 6.04 million ETH.
The company now holds about 4.9% of Ethereum’s supply. That puts it roughly 99% of the way toward its stated “Alchemy of 5%” accumulation goal.
Chairman Tom Lee described the broader market selloff as an attractive buying opportunity, framing the downturn as a reason to add to Bitmine’s position.
Source: Decrypt
