BitMine Surpasses 6 Million Ethereum: How Much Remains to Reach 5% of Supply?

BitMine added 17.362 Ethereum last week, bringing its total holdings above 6 million ETH and reaching 98% of its goal of holding 5% of the entire supply.

According to a company statement reported by Wu Blockchain, BitMine’s Ethereum holdings rose to 6.001.302 ETH as of September 27. The 17.362 ETH purchase over the past week pushed the company’s accumulation above the 6 million mark.

This amount represents approximately 4,9% of the total supply of 122,1 million ETH cited in the statement. The company’s goal is to reach a 5% share, equivalent to one out of every 20 ETH in circulation.

BitMine has about 104,000 ETH left to reach its goal

Based on the stated supply, the 5% target amounts to 6.105.000 ETH. The gap from its current holdings is about 104,000 ETH; the statement that the company has achieved 98% of its goal is also consistent with this figure.

84% of BitMine’s Ethereum holdings are staked

5.067.309 of the Ethereum held by BitMine is allocated to staking. Used to contribute to the network’s validation process, this amount accounts for approximately 84% of the company’s total ETH holdings.

The company also reported that the total value of its crypto assets, cash, marketable securities, and other investments is $17.2 billion.