BitMine could hit 5% of Ethereum supply in six weeks
- —BitMine held 6,016,414 ETH as of Oct. 4, about 4.9% of the 122.1 million supply
- —It needs 88,586 more ETH to reach 5%, roughly 5.9 weeks at 15,112 ETH per week
- —About 5.07 million ETH is staked (84% of holdings), potentially yielding $431 million a year
- —Lookonchain flagged a possible additional purchase of 12,500 ETH worth $33.65 million via BitGo
Why it matters: The largest corporate ETH holder is nearing a self-imposed cap on supply share, a shift that could affect Ethereum demand and liquidity.
Source: DiarioBitcoin