Bitmine adds $232.5M of ETH in a week, now controls 4.47% of total supply

Bitmine bought $232.5 million worth of ETH over the past week, according to Arkham monitoring cited by Huo Xing Finance. Tom Lee said the firm's total ETH holdings now stand at $11.2 billion, representing 4.47% of Ethereum's total supply. To reach the 5% level, Bitmine would need to acquire another $1.34 billion in ETH. At the current buying pace, the company is expected to hit that mark by mid-September. Bitmine previously said it aims to hold 5% of Ethereum's total supply by the end of 2026.