BitMine Passes 3,3 Million ETH and Targets 5% of Ethereum Supply

• BitMine holds over 3,3 million ETH
• Participation represents almost 2,8% of the circulating stock
• Goal is to reach 5% of Ethereum supply

BitMine Immersion has further expanded its lead among Ethereum-focused treasury companies. According to recent update , the company surpassed 3,31 million ETH on its balance sheet, after acquiring an additional 77.055 ETH last week. The purchase is worth approximately US$319 million at current market prices.

This brings the company's total cryptocurrency and cash holdings to $14,2 billion. ETH assets alone account for approximately $13,7 billion and represent almost 2,8% of the network's circulating supply, estimated at approximately 120,7 million ETH. In addition to Ethereum, the company holds 192 BTC, a stake valued at $88 million in Eightco, and $305 million in cash on hand.

BitMine easily stands as the world's largest corporate holder of ETH, surpassing rivals that, while solid, are far from reaching its size. SharpLink, linked to Joe Lubin, holds just over 859.000 ETH, while The Ether Machine holds approximately 496.710 ETH. These holdings indicate that BitMine already holds more than triple its closest competitor.

The aggressive buying push is supported by major institutional investors, including Cathie Wood's Ark Invest, Galaxy Digital, DCG, Kraken, Founders Fund, and Pantera. The company's official goal is to reach 5% of the circulating Ethereum supply, equivalent to 6,04 million ETH at the moment.

The update comes amid a more positive market movement for Ethereum. The asset rose 3,1% last week, driven by investor optimism regarding progress in trade negotiations between the United States and China. Tom Lee, president of BitMine and partner at Fundstrat, stated that "progress in trade negotiations between the US and China is positive for Ethereum and cryptocurrencies in general."

Lee added that Ethereum's performance has historically tracked bullish global stocks due to the leverage channel. He also stated that the current price decoupling relative to open interest creates an "attractive risk/reward" for the network's expected supercycle.

BitMine shares are among the most traded in the United States. Recent data shows an average daily volume of US$1,5 billion, placing the company among the most traded assets on the American stock exchange, a direct reflection of the rapid growth of its Ethereum treasury.