Bitmine Immersion Technologies (NYSE:BMNR) acquired 71,524 ETH last week, bringing total holdings to 4.875 million ETH representing 4.04% of total supply.
The ETH Accumulation
Bitmine now owns 4.04% of the total ETH supply of 120.7 million coins. That puts the company 81% of the way to its “Alchemy of 5%” target in just 9 months.
Last week’s 71,524 ETH purchase marks the highest buying pace since late December.
As of April 12, Bitmine’s crypto holdings total 4,874,858 ETH at $2,206 per ETH, 198 Bitcoin, $200 million stake in Beast Industries, $85 million stake in Eightco Holdings (NASDAQ:ORBS), and total cash of $719 million. Combined crypto plus cash plus “moonshots” total $11.8 billion.
“Bitmine has maintained the increased pace of ETH buys in each of the past four weeks, as our base case is ETH is in the final stages of the ‘mini-crypto winter,’” said Chairman Tom Lee.
The Staking Revenue
Bitmine …