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Bitmine buys $20M in Ethereum, reaching 4.97% of supply
The company says its holdings now total 6.07 million ETH, 99% of the way to its stated 5% target.
Key takeaways
- Bitmine added about $20 million of Ethereum, according to Decrypt.
- Its Ethereum holdings reached 6.07 million ETH, or 4.97% of supply.
- The company says it is 99% of the way to its 'Alchemy of 5%' goal.
- Chairman Tom Lee called Vitalik Buterin's 'ETH is money' remarks a 'seismic shift'.
The purchase
Bitmine, the Ethereum treasury company chaired by Tom Lee, bought about $20 million of ether, Decrypt reported on 9 November 2026. The purchase brings the firm's holdings to 6.07 million ETH.
According to Decrypt, that amount equals 4.97% of Ethereum's supply and puts Bitmine 99% of the way toward its goal of holding 5%, which the company calls the "Alchemy of 5%".
Lee on Buterin's remarks
Decrypt reported that Lee described comments by Ethereum co-founder Vitalik Buterin that "ETH is money" as a "seismic shift." The report did not give the date or venue of Buterin's remarks.
Bitmine has not published a separate statement on the purchase that this article could review. The figures above come from Decrypt's report.
Sources
1 reportThis article was prepared by BattleTown Newsroom from the reports listed above.
This story is for information only. It is not financial, investment or legal advice. Disclaimer
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