MarketPR
Bitmine Immersion Technologies (BMNR) announced its Ether holdings have reached 5.74 million $ETH tokens, equivalent to 4.8% of the cryptocurrency's total circulating supply of 120.7 million coins.
The company reported combined crypto and cash holdings of $11.1 billion, a figure that cements its position as one of the largest institutional holders of the asset.
Closing In on the 'Alchemy of 5%' Bitmine says it is 95% of the way toward what it calls the "Alchemy of 5%" — a self-designated threshold representing ownership of 5% of Ether's total coin supply.
The company reached that proximity in roughly 12 months, a pace of accumulation that implies a sustained and deliberate acquisition program rather than opportunistic buying.
Keep reading