BitMine Immersion Technologies reported Monday that its Ethereum holdings have crossed 6 million ETH after purchasing another 17,362 ETH since its previous weekly update.
The company now reports 6,001,302 ETH, worth roughly $16.1 billion at Monday prices and equivalent to more than 4.9% of Ethereum’s circulating supply. The Block, BitMine tops 6 million ETH
BitMine valued its combined cryptocurrency, cash, marketable securities and other investments at approximately $17.2 billion.
The company did not disclose the average purchase price for its latest 17,362 ETH acquisition. At Monday prices, the newly disclosed tokens were worth roughly $46.7 million. The Block
BitMine’s scale increasingly separates it from ordinary corporate crypto treasuries. A single company controlling close to 5% of circulating ETH creates meaningful concentration, particularly because a large portion of its holdings is being staked.
TOKEN RECON ASSESSMENT
The concentration figure is more informative than the weekly purchase.
Crossing 6 million ETH means BitMine is approaching a level where its staking policy, custody architecture and eventual capital decisions can become relevant to Ethereum’s broader supply structure.
That does not imply the company controls Ethereum consensus. It does mean a corporate balance sheet has accumulated an unusually large share of a major proof-of-stake asset, something the market has little historical precedent for evaluating.
Source
The Block, BitMine tops 6 million ETH after latest acquisition
