Bitmine has bought another $14 million worth of Ethereum while its cash balance fell to $104 million. The company has reported holding 4.8% of Ethereum's supply for five straight weeks, keeping it short of its stated “Alchemy of 5%” target.
Bitmine has bought another $14 million worth of Ethereum while its cash balance fell to $104 million. The company has reported holding 4.8% of Ethereum's supply for five straight weeks, keeping it short of its stated “Alchemy of 5%” target.
Bitmine has purchased $14 million in Ethereum, according to Decrypt, while the company’s cash position has declined to $104 million. The latest update keeps attention on the firm’s Ethereum accumulation strategy tied to Tom Lee.
Bitmine has purchased $14 million in Ethereum, according to Decrypt, while the company’s cash position has declined to $104 million. The latest update keeps attention on the firm’s Ethereum accumulation strategy tied to Tom Lee.
The move matters because Bitmine has continued to position Ethereum as a central treasury asset. For readers tracking public-company crypto strategies, the purchase shows that the firm is still adding exposure even as its available cash has fallen.
Bitmine has reported holding 4.8% of Ethereum’s supply for five consecutive weeks. That leaves the company roughly 230,000 ETH away from its stated “Alchemy of 5%” target.
The update does not, by itself, establish how quickly Bitmine may pursue that target or whether further purchases will follow. It does, however, keep the company among the more closely watched corporate Ethereum holders.
For the broader crypto market, Bitmine’s disclosures add another data point in the ongoing shift from Bitcoin-only treasury strategies toward Ethereum-focused balance sheet plays. The company’s next updates will be watched for whether its ETH share rises beyond the 4.8% level that has held steady for five weeks.
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