The World’s Largest Ethereum Treasury Buys Again This Week: Target Within Reach!
BitMine, identified as the company with the world’s largest Ethereum treasury, has acquired an additional 27,562 ETH in one week. Total assets reaching 5.98 million ETH, the company has completed approximately 98% of its goal to accumulate 5% of the Ethereum supply.
According to data cited by Wu Blockchain from a company statement, BitMine (BMNR) holds 5,983,940 ETH as of September 20. While the week’s new development was the purchase of 27,562 ETH, the total reserves demonstrate the scale of the company’s accumulation.
How much is left for 5% of the Ethereum supply?
Based on the 122.1 million ETH total supply cited in the statement, 5% corresponds to approximately 6.105 million ETH. There is a gap of about 121,000 ETH between BitMine’s current holdings and this level. This calculation is based on the assumption that the supply mentioned in the statement remains constant; it does not provide a timeline for the date the company will reach the goal.
The 4.9% announced by BitMine represents its share of the total Ethereum supply, while 98% indicates to what extent it has approached its own 5% accumulation target. The company does not hold 98% of the total Ethereum supply.
More than 5 million ETH of the reserve is staked
A portion of 5,067,309 ETH of the company’s holdings is staked. Based on the $2,688 ETH price used in the statement, the value of these assets is given as approximately $13.6 billion. This amount is the value of the staked ETH, not staking income.
The staked amount is included within the total 5.98 million ETH reserve; it is not added separately to the company’s Ethereum holdings. The source does not state whether all of these ETH were staked in the last week or if the 5 million threshold was crossed for the first time this week.
Total assets over $17 billion
The total of BitMine’s crypto assets, cash, marketable securities, and other investments was announced as approximately $17.1 billion. This includes $714 million in cash and marketable securities.
The weekly purchase shows that the company continues to accumulate Ethereum. However, the ETH price used in the statement is not presented as the average purchase price of the 27,562 ETH newly acquired.