Bitmine Plans To Slow Ethereum Purchases as Holdings Near 5% of Supply

Bitmine plans to slow its Ethereum purchases as its holdings approach 5% of the asset’s supply. According to NS3.AI, Thomas Lee said the company holds 5.7 million ETH, equal to about 4.8% of supply. The company plans to allocate more capital toward staking, Ethereum infrastructure, and financial services investments. Bitmine’s move comes as it nears a concentration level it has identified as significant for its ETH holdings.