Bitmine Ethereum Treasury Tops 6 Million ETH After Another Weekly Purchase

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. TL;DR: Bitmine says its Ethereum holdings reached approximately 6.04 million ETH after it added 12,535 tokens over the past week. Bitmine Immersion Technologies has pushed its Ethereum treasury past the six-million-token mark, reporting holdings of 6,041,481 ETH as of October 18. The company said it acquired another 12,535 ETH during the preceding week. The size is striking even by corporate crypto-treasury standards. Bitmine describes its position as roughly 4.9% of Ethereum’s circulating supply and says more than five million of its ETH are staked. That staking component matters. Unlike a Bitcoin treasury that generally depends on price movements, a large Ethereum holding can also earn network rewards by participating in validation. Rewards are not risk-free, however, and the economics depend on...