Bitmine Acquires 26,497 ETH Worth $52M on Monday, Approaches 5% of Ethereum's Supply

ETH-1.83%
According to The Block, Bitmine acquired 26,497 ETH worth about $52 million on Monday, bringing its total holdings to 5,416,901 ETH. The ethereum treasury firm currently holds 4.49% of Ethereum's circulating supply and targets reaching 5% sometime in 2026. Bitmine Chairman Tom Lee stated the firm is expected to reach this 'alchemy of 5%' goal in 2026, noting that ETH prices are not yet reflecting the strengthening of Ethereum fundamentals.
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