BitMine, a publicly traded company, has quietly amassed a staggering $3 billion worth of Ethereum (ETH) in just 35 days. This makes their ETH holdings the largest in the world, currently sitting at over 833,000 ETH.
An Ambitious Goal
The company, chaired by Fundstrat co-founder Tom Lee, aims to own a significant chunk of the Ethereum supply – a full 5%, or approximately 6,035,480 ETH. Lee describes their rapid acquisition as achieving the “alchemy of 5%”.
How Did They Do It?
BitMine, which describes itself as a Bitcoin and Ethereum network company, funds its crypto purchases through Bitcoin mining operations and capital raises. These mining operations are spread across several locations in the US and Trinidad.
The Current Market
At the time of writing, ETH is trading at $3,641, a 4.02% increase over the past 24 hours.
Disclaimer: This information is for general knowledge and does not constitute financial advice. Always conduct your own research before making any investment decisions.
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