Bitmine bought almost 5% of all Ethereum

Bitmine Immersion Technologies has completed a massive Ethereum purchase, increasing its holdings by 9,926 coins in just one week. The company's total assets now amount to 5.82 million ETH, valued at approximately $11 billion.

This volume means Bitmine controls 4.8% of the entire existing ether supply. The company is moving toward its strategic goal of acquiring one-twentieth of all cryptocurrency, having completed 96% of this plan within 14 months of operation.

About 87% of the acquired assets, or 5.07 million ETH, have been staked. This decision generates around $250 million in annual revenue for the corporation, making it the world's largest staker.

Alongside accumulating cryptocurrency, Bitmine is actively buying back its own shares on the market. Since July, 20.8 million shares have been purchased, occurring against the backdrop of stock prices falling to an annual low.

Despite the aggressive accumulation strategy, the Ethereum asset itself shows negative dynamics. Over the past year, the price of ether dropped by nearly 60%, falling to $1,900.