BitMine Acquires $200 Million in Ethereum Holdings, Aims for 5% Ownership

BitMine, a prominent player in the cryptocurrency market, has significantly expanded its Ethereum holdings with a recent $200 million purchase. This move brings their total ETH reserves to approximately 3.63 million coins, valued at over $10.8 billion – representing roughly 3% of the entire Ethereum supply. This strategic investment positions BitMine as one of the largest holders of Ethereum, placing them second only to other institutional entities in terms of digital asset holdings.