Bitmine Snags 32k ETH as Ethereum Treasury Nears 5% of Supply
Bitmine added another 32,447 ETH to its corporate balance sheet, pushing its holdings past 4.8% of circulating ether.
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Key takeaways
- Bitmine bought another 32,447 ETH for its corporate treasury.
- The firm now holds over 4.8% of Ethereum's total circulating supply.
- Bitmine's total balance sheet across crypto, cash, and assets reached $14.9 billion.
- Tom Lee noted that an ETH price move to the upside was overdue.
Bitmine just bought another 32,447 ETH. That purchase expands its balance sheet right as market analyst Tom Lee declared that an ETH upside move was way overdue.
This latest buy pushes Bitmine's total Ethereum stash past 4.8% of the token's circulating supply. Between its crypto, cash reserves, and other assets, the firm's total investments now sit at $14.9 billion.
Accumulating ETH
Holding nearly 5% of all liquid ether gives Bitmine serious weight in this market. It's heavy buying, coming right as Lee noted that Ethereum's price momentum was long delayed.
Why it matters
When a single entity locks up almost 5% of a top cryptocurrency, liquidity shrinks fast. For traders and investors, institutional treasuries like Bitmine absorbing this much supply changes open market dynamics—leaving far less floating supply on the table when spot demand heats up.
Source: The Block
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Priya covers the AI side of crypto — agent tokens, decentralised compute and where the two industries actually meet.
