BitMine said it acquired 12,535 Ethereum over the past week, bringing its total reserves to 6,041,481 ETH and giving it a holding equivalent to approximately 4.9% of the Ethereum supply.
According to the weekly update reported by Wu Blockchain, the company’s Ethereum holdings reached 6.04 million ETH. The update put the total Ethereum supply at 122.1 million ETH, with BitMine’s share coming close to 5%, highlighting the scale of the company’s treasury.
The latest purchase for the week was reported as 12,535 ETH. The company’s current total reserves include not only the Ethereum acquired during this period but also its previous holdings.
Most of the reserves are staked
Some 5.07 million ETH of BitMine’s holdings are staked. According to the figures disclosed, this amount represents approximately 84% of the company’s total ETH reserves. Staking means using Ethereum to help operate the network and earn rewards.
The total value of the company’s crypto assets, cash, marketable securities, and other investments was reported as $15.1 billion as of October 18.
Not investment advice.