Bitmine buys another $60m worth of Ethereum, brings total holdings to 5,206,790 ETH
Bitmine has bought Ethereum once again. This recent purchase, however, is different from previous purchases as the 26,659 ETH bought is a sharp pullback from the recent pace of at least 100,000 ETH tokens per week with the company getting closer to its goal of holding 5% of ETHs total circulating supply. Bitmine‘s total holdings now currently stand at 5,206,790 ETH, which is valued at approximately $12.3 billion at an average of $2,366 per token. That represents 4.31% of Ethereum’s circulating supply of 120.7 million tokens, according to the companys recent filing. Bitmine ever closer to 5% target Chairman Tom Lee has said the company is purposely easing its accumulation of Ethereum after months of aggressive buying that saw Bitmine acquire more than 1 million ETH this year. “We have decided to slow down our pace of weekly accumulation from over 100,000 per week,” Lee said in the company statement. “Our previous pace of buys would have us reach 5% by mid-July.” Lee had initially mentioned the possible shift last week at Consensus 2026 in Miami, where he told attendees the company was reconsidering the speed of its approach toward what it calls the “alchemy of 5%,” its target of owning 5% of all ETH