🪙Ethereum "whales" take action again: BitMine spends nearly 300 million dollars in a single week, holding over 3.41 million coins $ETH
When the market hesitates, BitMine chooses to steadily increase its holdings. As Ethereum's price adjusts, the company quietly completed the largest single-week purchase of the year, pushing the grand goal of "5% alchemy" one step forward.
👉Strategic increase: Optimize costs Price/net asset calculation see [image]👇
As the crypto market adjusts, BitMine Immersion Technologies has made a counter-cyclical move—through two institutional-level platforms, BitGo and FalconX, purchasing 97,649 ETH in one week, costing about 296 million dollars.
The overall reserves reached approximately 3.41 million coins, valued at over 10.23 billion dollars at current prices. The holding cost was optimized from approximately 4016 dollars to around 3972 dollars.
👉Transformation path: From Bitcoin miner to Ethereum treasury
BitMine $BMNR's initial main business was Bitcoin mining, transforming into a treasury company that has gained favor from top-tier capital, including renowned investment institutions such as MOZAYYX, Founders Fund, ARK Invest, and Pantera Capital.
👉"5% Alchemy": BitMine's grand vision and theoretical foundation
BitMine's strategic core is referred to as "5% alchemy"—the goal is to hold 5% of the total global supply of Ethereum. Currently, the company holds approximately 3.41 million ETH, accounting for 2.8% of the total circulation of Ethereum, steadily progressing towards its established goal.
Founder Tom Lee has repeatedly emphasized that the Ethereum treasury model has advantages over spot ETFs. Through the premium effect of the listed company's stock price, the company can continuously finance and increase its Ethereum holdings, forming a positive cycle that enhances both assets and stock prices.
👉Market position: Absolute leader in institutional Ethereum holdings
Compared to other publicly held companies with Ethereum, BitMine's holding scale has an overwhelming advantage. The second-ranked company holds less than 1 million ETH, while BitMine's reserve scale is nearly three times that.
