BitMine Doubles Ethereum Holdings to Over 2.5% of Supply with $417M Purchase

BitMine significantly expanded its Ethereum holdings, acquiring a massive $417 million worth of ETH in a recent market downturn. The firm now holds over 3.03 million ETH, representing more than 2.5% of the total supply. This move positions BitMine for greater staking and liquidity influence in the crypto space, with a long-term target of achieving 5% ownership of Ethereum circulating supply.