BitMine's Aggressive ETH Accumulation Nears 5% Circulating Supply

With recent estimates suggesting it has topped 5.67 million ETH, Tom Lee's BitMine has greatly raised its Ethereum holdings. With overall crypto and cash assets worth about $10.7 billion, this makes BitMine a big business Ethereum owner. Although one statistic indicates ownership of 5.74 million tokens, the confirmable disclosure shows 5.67 million; thus, there could be a very late follow-on update.

BitMine has always aimed for around 5% of the circulating supply by buying Ethereum regularly. Reports now show their holdings in the middle-to-upper 4% range, suggesting they are approaching their long-term target. A fast rate of acquisition—from 5.18 million ETH in early May to 5.42 million by end of May and then to 5.67 million in late June—is evidence of this constant growth.

BitMine's quick ETH acquisition rate points to a recent event of 5.74 million tokens that matches their ongoing trend. But the most dependably confirmed estimate for BitMine's Ethereum treasury is 5.67 million tokens based on the data now available.