BitMine is buying another 10,000 ETH directly from the Ethereum Foundation.
$23.9 million. OTC. Direct.
The same deal structure as last time.
The same buyer. The same seller.
A bigger position. A closer target.
4.98 million ETH total.
5% of Ethereum's entire circulating supply.
Within reach.
Here's the full arc of what BitMine has built.
On-chain detectives first caught the $233M acquisition through three fresh wallets.
Then 93,600 ETH staked in a single day.
3.49 million ETH locked. 70% of holdings. $8.13 billion.
The Ethereum Foundation sold $23.8M OTC to BitMine directly.
Now 10,000 more ETH. Same channel. Same counterparty.
This isn't accumulation.
This is a supply capture strategy.
5% of Ethereum's circulating supply controlled by a single institutional holder.
For context Satoshi is estimated to hold roughly 5% of Bitcoin's supply.
BitMine is engineering the Ethereum equivalent of the Satoshi position.
Except publicly. On-chain. With the Ethereum Foundation's cooperation.
Here's what 5% supply control means in practice.
When 5% of supply is staked and held by a single entity with no intention of selling
The effective floating supply compresses dramatically.
Any demand increase hits a supply wall that can't respond.
Price discovery doesn't grind higher. It gaps.
BitMine isn't trading Ethereum.
They're removing it from the market.
Permanently.
And the Ethereum Foundation keeps selling to them.
The most important ETH transaction of the year just happened for the second time.
#Ethereum #ETH #BitMine #EthereumFoundation #Crypto