CoinTelegraph
BitMine acquired 111,942 ETH last week, pushing its total holdings to 5.39 million ETH — equivalent to 4.47% of Ethereum's entire circulating supply. The single-week purchase represents one of the more aggressive institutional accumulation moves seen on the Ethereum network in recent memory.
A position of this scale has direct implications for ETH's effective float. With nearly one in every twenty-two ETH now sitting in a single institutional treasury, supply-side pressure on the open market tightens meaningfully. For investors tracking on-chain supply dynamics, BitMine's pace of accumulation is a signal worth monitoring closely.
The move follows a broader trend of corporations and funds treating ETH as a treasury reserve asset, mirroring the playbook that drove Bitcoin's institutional adoption cycle.
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