Bitcoin mining firm Bitmine Immersion Technologies bought more than $ 2.1 billion ether in just 16 days, taking lead amid a fuzzy newly formed Treasury company.
Bitmine Says In a statement on Thursday that in the last 16 days, it bought 566,776 ether (Eth), costs more than $ 2.1 billion.
Tom Lee, who is in charge of the Fundstrat partner and the Chairman of Bitmine, said after the latest spree purchase, the company “is well in our way to achieve our goal of obtaining and staking 5% of ETH’s overall supply.”
Strategic ether reserves Shut up Bitmine as the largest ether firm firm, followed by Sharplink gaming with approximately 360,800 ETH and the Ethereum Foundation, listed as handling around 237,500 ETH.
Bitmine wants 5% of ether supply; Saylor has only 2.9% of Bitcoin
In Ether’s current supply, 5% of all ether equals nearly 6 million ether, costing $ 22 billion at current prices.
Ether does not have a fixed supply; It can increase or decrease based on if more ETH is burned than released (which will be made deflationary).
If it succeeds, Bitmine will hold a greater portion of Ether supply than Michael Saylor’s company, Strategy, has Bitcoin at present, which is 607,770 Bitcoin (Btc), which represents 2.9% of Bitcoin’s 21 million coins.
However, Saylor said he would continue to accumulate bitcoin as a long-term owner of the Treasury.
Meanwhile, Bitmine has shared Sharpink Gaming again as the largest corporate ether holder.
On Tuesday, the Sharpink play reported a purchase of 79,949 etherThat brings its total handling to 360,807, which costs nearly $ 1.3 billion in current market prices.
Stock up since the ether pivot
Both Bitmine and Sharpink Gaming have seen their stock pump prices after announcing Ether Treasury Ether.
Days after announcement Its plans to buy ether, bitmine stock (BMNR) Skyroketed More than 3,000% at a full time high $ 135 on July 3.
Meanwhile, following its Ether Pivot announcement on May 27, the Sharplink Gaming (SBET) Sharing price price Spiked 171% to trade at $ 79.21.
Related: Cathie Wood sells Coinbase, Roblox shares for Tom Lee’s eth firm
Billion -Billions of Ether in strategic reserves
There are current 2.31 million ether held in 61 strategic reserves, representing 1.91% of the total supply, worth $ 8.46 billion, according to the strategic ether reserve.
In comparison, Bitbo data Shut up 206 companies hold more than 3.4 million in Bitcoin, which costs more than $ 408 billion and represents 16.5% of the total supply.
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