Bitmine Holds 6 Million ETH, Plans to Stop Buying

Bitmine holds approximately 6 million ETH, accounting for 4.9% of the total ETH supply. It is about 100,000 ETH away from the 5% cap, after which it will stop buying. The 5% cap was proposed by Vitalik Buterin. Bitmine originally planned to complete this strategy in about 5 years, but it reached 4.9% in just over a year. The company continued to buy during the bear market and made large purchases when the ETH price was around $1,500. On October 19, Bitmine increased its holdings by 12,535 ETH, bringing its total to 6,041,481 ETH, worth nearly $14.5 billion. Two days later, the company staked 159,728 ETH, with approximately 86.5% of its treasury assets now staked.

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