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Bitmine boosts ETH treasury to 5.78M tokens, nearing a 5% goal

The firm added 7,430 ETH in the past week and reported 4.8% of Ethereum’s circulating supply held in its treasury, with about 85% of ETH staked.

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Bitmine said its Ether treasury has grown to 5.78 million tokens, which it estimates is about 4.8% of Ethereum’s circulating supply as it closes in on a stated goal of accumulating 5% of all ETH, according to Cointelegraph. The company added 7,430 ETH over the past week. It also said about 4.9 million ETH, roughly 85% of its treasury, is staked through its validator network and partners. Bitmine valued its combined crypto, cash, and marketable securities at $11.5 billion, including 207 Bitcoin and $385 million in cash and securities. It also repurchased 5.5 million shares during the week under a previously authorized $4 billion buyback program. Cointelegraph reports that Bitmine shares were up more than 6% in Monday afternoon trading, putting the one month gain at around 3.3%. The update comes alongside information from CoinGecko cited in the article showing Ethereum has outperformed Bitcoin over the past week and month.

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