BitMine buys 60,976 ETH, holdings reach 4.535M tokens, 3.76% supply
BitMine lifts its Ethereum (ETH) stake to ~3.76% of supply. The firm reports $10.3B in cash and crypto assets.
BitMine’s total ETH stack rose to 4.5 million tokens, per NewsBTC’s tally here. The company’s disclosure shows 4.535 million ETH and $10.3 billion in combined cash and crypto holdings here.
Breakdown:
- 3,040,483 ETH staked, valued near $6B at $1,965 per ETH company disclosure
- $1.2B in cash, plus other crypto assets company disclosure
The firm says it’s over 75% of the way to its “Alchemy of 5%” supply target, eight months in NewsBTC. BitMine also nudged up its weekly buying pace from 45k–50k ETH to about 61k ETH NewsBTC.
“Crypto is in the late/final stages of a mini-crypto winter,” said CEO Tom Lee, noting ETH’s resilience amid war fears and higher oil prices NewsBTC. Advisor Tom DeMark sees ETH price action mirroring the S&P 500’s 2011 and 1987 declines with 89% and 93% correlations, and expects a potential low between March 8–14, just under $1,740 NewsBTC.
BMNR shares traded at $20.70, up ~10% on the day Yahoo Finance.
