BitMine Buys Another 53,501 ETH as Ethereum Stash Blows Past 5.9M
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Bitmine, a former bitcoin miner, bought more than 53,000 ETH over the past week, growing its treasury to 5.9 million ETH or about 4.9% of Ethereum's total supply. At ETH ≈ $2,500 (Sunday), those holdings are worth nearly $15 billion, an aggressive institutional accumulation that could tighten supply and support ETH price, adoption and market confidence in crypto and DeFi ecosystems.
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The former bitcoin miner continues with its aggressive Ethereum purchases, acquiring more than 53,000 tokens over the past week as its massive treasury now contains 5.9 million ETH, equivalent to 4.9% of the asset’s total supply.
At ETH’s reported price of just over $2,500 (Sunday data), Bitmine’s Ethereum holdings alone are worth nearly $15 billion.
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