Target is 5% of all Ethereum. This company has already accumulated 97%.
The hoarding-coin maniac Bitmine has made another move. This time, it bought 28,000 ETH in one go—about $69 million. The coin-hoarding progress bar has jumped straight to 97%.
What’s its goal? 5% of the total Ethereum supply. At the current pace, in about seven more weeks the target should clear.
If you don’t have a sense for it, let’s do the math:
Ethereum’s total supply is around 120 million coins. 5% of that is about 6 million.
A publicly listed company would be eating up one-fifth of all the Ethereum on the internet. Just imagining that scale—you can’t even see retail investors’ taillights from it.
Even more hardcore: its main holdings are currently in an unrealized loss. The mark-to-market loss on paper is as high as $5.1 billion, yet they buy without blinking. The team has also said that once the price stabilizes, the uptrend will resume quickly.
That mindset is basically turning DCA (dollar-cost averaging) into a belief.
Some people call it a dead-bull position; others think it’s tying the company’s fate to a single coin. But from another angle, what it’s locking in is Ethereum’s ecosystem position—not caring about short-term moods. With a stake large enough to influence market sentiment, this is a plainly declared strategic play.
An unrealized loss of $5.1 billion—ordinary institutions would already be unable to sit still. This style of betting the house on one coin: if it rises, it’s a miracle; if it falls, it’s an accident.
But judging by its actions, it’s clearly decided to go all the way. Do you admire this kind of hoarding strategy, or do you think the risk is too big? Let’s chat in the comments.
Click the avatar to watch the live stream.
Every day, I’ll take you to track Ethereum hot topics—not just what happens in the news, but to help you understand the logic and opportunities behind it 👉🦖
#以太坊 #Bitmine
The hoarding-coin maniac Bitmine has made another move. This time, it bought 28,000 ETH in one go—about $69 million. The coin-hoarding progress bar has jumped straight to 97%.
What’s its goal? 5% of the total Ethereum supply. At the current pace, in about seven more weeks the target should clear.
If you don’t have a sense for it, let’s do the math:
Ethereum’s total supply is around 120 million coins. 5% of that is about 6 million.
A publicly listed company would be eating up one-fifth of all the Ethereum on the internet. Just imagining that scale—you can’t even see retail investors’ taillights from it.
Even more hardcore: its main holdings are currently in an unrealized loss. The mark-to-market loss on paper is as high as $5.1 billion, yet they buy without blinking. The team has also said that once the price stabilizes, the uptrend will resume quickly.
That mindset is basically turning DCA (dollar-cost averaging) into a belief.
Some people call it a dead-bull position; others think it’s tying the company’s fate to a single coin. But from another angle, what it’s locking in is Ethereum’s ecosystem position—not caring about short-term moods. With a stake large enough to influence market sentiment, this is a plainly declared strategic play.
An unrealized loss of $5.1 billion—ordinary institutions would already be unable to sit still. This style of betting the house on one coin: if it rises, it’s a miracle; if it falls, it’s an accident.
But judging by its actions, it’s clearly decided to go all the way. Do you admire this kind of hoarding strategy, or do you think the risk is too big? Let’s chat in the comments.
Click the avatar to watch the live stream.
Every day, I’ll take you to track Ethereum hot topics—not just what happens in the news, but to help you understand the logic and opportunities behind it 👉🦖
#以太坊 #Bitmine
