Bitmine holds approximately 6 million ETH, valued at nearly $14.5 billion, and will stop buying once it reaches 5% of supply
: Tom Lee, Chairman of crypto asset treasury company Bitmine, stated that Bitmine holds approximately 6 million ETH, accounting for 4.9% of the total ETH supply, and is about 100,000 ETH away from the 5% cap; it will stop buying once the cap is reached. The 5% cap was proposed by Vitalik Buterin.Tom Lee stated that Bitmine originally planned to complete this strategy in about 5 years, but in practice it reached 4.9% of the total ETH supply in just over a year. The company continued buying during the bear market and made large purchases when ETH was priced at around $1,500.On October 19, Bitmine added 12,535 ETH, increasing its holdings to 6,041,481 ETH, then valued at nearly $14.5 billion. Two days later, the company staked another 159,728 ETH, with about 86.5% of its treasury assets now used for staking. (Bitcoin.com News)
