BitMine Raises Ether Holdings to 6.03 Million, Nearing 5% Goal

BitMine added 12,532 Ether (ETH) over the past week, lifting its holdings to 6,028,946 ETH and bringing the company to about 4.9% of Ethereum’s stated 122.1 million-token supply.

The increase puts BitMine roughly 99% of the way toward its target of holding 5% of all ETH. The company said 5,067,309 ETH was being used for staking as of Oct. 11.

BitMine also indicated that it has essentially completed its ETH buying, suggesting that the pace of future purchases may slow as it approaches the target. The accumulation gives the company an unusually large corporate position in Ethereum’s native asset.