Bitmine Accumulates 6.07M ETH Tokens, Eyes $14.3B Crypto Portfolio
Bitmine Immersion Technologies now holds 4.97% of total ETH supply as its combined crypto, cash, and securities value reaches $14.3 billion.
Bitmine Immersion Technologies (BMNR) has disclosed that its Ethereum holdings have climbed to 6.07 million ETH tokens, representing approximately 4.97% of the cryptocurrency's total circulating supply of 122.2 million coins, the company announced. The firm's combined portfolio of cryptocurrencies, liquid cash, and marketable securities now stands at $14.3 billion.
The accumulation milestone comes just 15 months after Bitmine launched its Ethereum treasury strategy, a timeline in which the company said it reached 99% of its stated acquisition target. The pace of buildup signals an aggressive institutional approach to ETH as a reserve asset, echoing the strategy that MicroStrategy pioneered with Bitcoin in earlier years.
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Ethereum co-founder Vitalik Buterin added weight to the institutional thesis, stating publicly: "In the end I became convinced — ETH is a store of value, ETH is money." The remark, cited by Bitmine in its announcement, aligns with the company's core argument for treating Ether as a long-term balance-sheet holding rather than a speculative trade.
The disclosure positions Bitmine as one of the largest single institutional holders of ETH on record. Analysts note that concentrating nearly 5% of a major cryptocurrency's supply in a single corporate entity raises both liquidity and market-impact questions, though the company has not publicly addressed those concerns in its latest statement.
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