Techub News, citing a Cointelegraph report, reveals that Bitmine ($BMNR) holds 5.42 million Ether, currently valued at over $10.8 billion. This stake equates to 4.49% of Ethereum's total supply — nearly one-twentieth of all circulating ETH, a concentration rarely seen among institutional investors.
Bitmine's approach mirrors the treasury reserve model pioneered by Strategy (previously MicroStrategy), but the firm targets Ethereum instead of Bitcoin. Through consistent open-market purchases, Bitmine is building a core ETH position on its balance sheet, signaling a strategic bet on Ethereum's long-term value. The move marks another instance of a publicly traded company embracing crypto as a reserve asset.
With such a large holding, Bitmine likely commands significant influence within the Ethereum network. The disclosure did not include details about the average purchase price or any intended future transactions, leaving market participants speculating about the firm's next move.