BitMine Reveals Weekly Ethereum Purchase: How Close Is It to Its Goal of Acquiring 5% of Supply?

BitMine purchased another 15,112 Ethereum last week, bringing its total holdings to 6,016,414 ETH and moving closer to its goal of owning 5% of the Ethereum supply.

According to a company statement reported by Wu Blockchain, the amount reached as of October 4 represents approximately 4.9% of the total supply of 122.1 million ETH. The company says it has reached 99% of its 5% target, based on a rounded calculation.

About 89,000 ETH left to reach the 5% target

Based on the total supply given in the statement, a 5% share amounts to 6,105,000 ETH. There are approximately 88,586 ETH between that level and the current total of 6,016,414 ETH. This calculation uses the supply figure provided in the statement.

The latest weekly purchase of 15,112 ETH brought the company a little closer to its target, while BitMine’s total holdings remain above 6 million ETH.

More than 5 million ETH staked

BitMine said it has staked 5,067,309 ETH of its holdings. This amount represents approximately 84% of its Ethereum.

The total value of the company’s crypto assets, cash, marketable securities, and other investments was reported at $17.4 billion.