Bitmine grows treasury to 5.78M ETH as Ether outpaces Bitcoin

The Ethereum treasury firm added 7,430 ETH over the past week, bringing its holdings to nearly 5% of the network’s circulating supply.

Top Ethereum treasury company Bitmine said Monday its Ether holdings had reached 5.78 million tokens, representing about 4.8% of Ethereum’s circulating supply, as the company closed in on its stated goal of accumulating 5% of all ETH.

According to Monday’s announcement, the company added 7,430 ETH (ETH) over the past week. About 4.9 million ETH, or roughly 85% of its treasury, is currently staked through its validator network and partners.

Bitmine valued its crypto, cash and marketable securities at $11.5 billion, including 207 Bitcoin and $385 million in cash and securities. The company also repurchased 5.5 million shares during the week under its previously authorized $4 billion buyback program.

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