🚀 BitMine is making big moves in the Ethereum space! They now hold 2.4 million $ETH , which is about "2% of Ethereum's total supply". This puts them on track to reach their goal of acquiring "5% of all ETH in circulation".
📌 Key Highlights
◾Total Holdings : BitMine's crypto and cash assets are valued at $11.4 billion.
◾Recent Acquisition : They bought "264,378 ETH" ($1.1 billion) recently.
◾Funding : BitMine raised "$365 million" at a 14% premium, with potential proceeds up to $1.28 billion for more ETH purchases.
◾Institutional Backers : Support from Ark Invest's Cathie Wood, Founders Fund, Pantera, and others.
📈 BitMine's Strategy
◾Ethereum Focus : Chairman Tom Lee believes Ethereum is a top macro trade for the next 10-15 years.
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Goal : Acquire "5% of circulating ETH supply" (around 6.04 million ETH).
