Bitmine reaches 4.9% of Ethereum supply after adding 53.5K ETH

Bitmine has increased its holdings to 4.9% of Ethereum’s total supply after adding 53,500 ETH, according to Cointelegraph. The purchase extends the company’s Ether accumulation streak to 65 consecutive weeks. Bitmine has continued buying through a prolonged downturn in the cryptocurrency market, maintaining its strategy despite reported paper losses of $5.1 billion. The update highlights the scale of Bitmine’s exposure to ETH as the company continues to build its position over time. The figures describe the company’s holdings and unrealized losses; they do not indicate a realized gain or loss from selling the asset.