CoinScoopBitMine nears 5% of total Ethereum supply
BitMine Immersion Technologies has accumulated 5,983,940 ETH, representing 4.9% of the total circulating supply, following a weekly purchase of 27,562 ETH. The company, led by Tom Lee, aims to reach a 5% threshold through its 'Alchemy of 5%' initiative, requiring approximately 120,000 more ETH. Currently, 85% of its holdings are staked, and the company maintains a total valuation of $17.1 billion.
Summaries are written by AI from the original article. Not investment advice.