UPDATE 420

BitMine’s 6 million ETH milestone is making waves This is one of those crypto stories that makes you stop and look twice. #Bitmine Immersion Technologies has now crossed 6 million #ETH in holdings, reaching around 6,001,302 ETH. That’s roughly 4.9% of Ethereum’s total supply, putting the company just a step away from its stated goal of holding 5% of all $ETH . BitMine also added another 17,362 ETH in its latest reported week. At the company’s reported ETH price of $2,698, its Ethereum stash was worth roughly $16.2 billion. But the interesting part isn’t just the size of the wallet. A large portion of those holdings more than 5 million ETH has reportedly been staked. That shows BitMine isn’t simply collecting ETH and leaving it untouched; it is also looking to generate staking returns from its holdings. The company’s strategy has already attracted plenty of attention because accumulating such a huge amount of ETH gives BitMine significant exposure to Ethereum’s long-term growth. At the same time, a position this large naturally raises questions about concentration, liquidity and what could happen if the company changes its strategy. For Ethereum, the story is bigger than one company. BitMine is betting heavily on ETH’s future. The real question now is: how far will this accumulation strategy go? #BitMineETHHoldingsTop6Million