MarketPR
A $131.3 million week of Ethereum buying gave Bitmine Immersion Technologies (NYSE: $BMNR) its largest single-week purchase of $ETH since June, adding 53,501 tokens to a balance sheet that now holds 5,901,112 ETH valued at $14.50 billion.
The company is 134,000 ETH short of the 5% circulating supply target it has been building toward, with Ethereum trading at $2,450 on August 31. The acceleration reverses a pattern that ran through most of the summer.
The serial cryptocurrency acquirer, led by Chairman Tom Lee, had been deliberately easing off the order book as its position closed in on the self-imposed threshold, with weekly purchases dropping below 10,000 ETH on multiple occasions in July and August.
That pace changed sharply in the final week of the month. Ethereum's circulating supply stands at 120.7 million tokens; Bitmine now holds 4.9% of it. Staking throughput and the revenue line The inventory isn't static.
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