Crypto Drop Club
Photo
click to show
click to show
🔷 Bitmine Buys $70M ETH, Now Holds 4.9% of Supply
Tom Lee's Bitmine has purchased another 28,086 ETH for ~$70 million, bringing its total treasury to 5.93 million ETH — worth approximately $14.8 billion and representing 4.9% of Ethereum's entire circulating supply.
The company has now completed 97% of its goal to accumulate 5% of ETH's supply. Most of its holdings are staked to generate ongoing rewards.
Despite the scale of the position, Bitmine currently sits on a $5.1 billion unrealized loss on its ETH treasury — a reflection of how far prices have fallen since the bulk of its accumulation.
Trade on Binance
2 · 1.5K ·