In accordance with BitcoinWorld, Bitmine (BMNR) has accumulated 3.97 million ETH, representing 3.28% of the total Ethereum supply and 66% of its goal to control 5% of all ETH. The company is expected to acquire an additional 2.03 million ETH to reach its target, raising questions about market impact, governance influence, and price stability. Bitmine's strategy likely involves a mix of market purchases and OTC deals to minimize price slippage. The accumulation has sparked debate over decentralization risks and institutional influence in the Ethereum ecosystem.
Bitmine Acquires 3.97M ETH, 66% Toward 5% Supply Target
BitcoinWorldShare
Summary
Bitmine (BMNR) has acquired 3.97 million ETH, or 3.28% of the total supply, moving 66% toward its 5% target. The firm plans to buy an additional 2.03 million ETH, likely through market and OTC purchases to limit ETH price swings. The move has raised concerns about governance control and decentralization risks. ETH analysis suggests the accumulation could affect market dynamics and institutional influence in the Ethereum network.
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