Bitmine acquires more ETH, nearing its goal of holding 5% of the total supply

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Bitmine acquires more ETH, nearing its goal of holding 5% of the total supply

⚡ Markets: Concentrated buying from a major entity provides price support for ETH, but also centralizes a significant portion of the supply, creating potential future volatility risk if the position is unwound.ETH

Crypto investment firm Bitmine has continued its large-scale accumulation of Ethereum, purchasing another $70 million worth of ETH. The company's holdings have reached 5.93 million ETH, representing approximately 4.9% of the total supply and 97% of its stated treasury accumulation goal.

West MSM: noneFinancial press 41 country

4 sources across the spectrum

Financial pressDecrypt — Tom Lee's Bitmine Adds $70 Million in Ethereum, Holdings Reach 5.93 Million ETH

Financial pressThe Block — Bitmine nears 5% of Ethereum supply after buying 28,086 ETH

Financial pressCointelegraph — Bitmine buys 28k ETH, completes 97% of treasury accumulation goal

Financial pressCoinDesk — Bitmine purchased another $69 million of ETH, with Tom DeMark expecting price uptrend to soon resume

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