BitMine holds over 6 million ETH, just 103,700 ETH away from its 5% supply target

Odaily News: Ethereum treasury company BitMine Immersion Technologies held 6,001,302 ETH as of Sunday, representing 4.9% of the 122.1 million ETH total supply it cites, and is about 103,700 ETH away from its goal of holding 5% of the supply.

The company has purchased an average of approximately 21,600 ETH per week over the past 12 weeks. If it maintains this pace, it could reach the target in about 4.8 weeks, possibly in early November. Chairman Tom Lee said the company will reassess in 2027 whether to continue increasing its holdings beyond 5%. (Cointelegraph)