Ethereum treasury company Bitmine has reached a key milestone after its Ether stock surpassed 4 million tokens this week following its recent $40 million purchase of the company.
Bitcoin he said as of Monday, its holdings currently stand at over 4.06 million Ether (ETH) on Lookonchain noticing earlier in the day, the company purchased 13,412 ETH worth $40.61 million.
The latest purchase brings Bitmine’s total earnings over the past week to almost 100,000 ETH, with the company adding that it purchased all of its tokens at an average purchase price of $2,991 each.
“Bitmine continues to steadily increase its ETH holdings, adding 98,852 ETH last week, and Bitmine holdings now exceed the key 4 million ETH tokens,” said Bitmine CEO Tom Lee. “This is a huge milestone achieved after just 5.5 months.”
With the price of ETH surging to $3,000 over the weekend, Bitmine’s Ether stock has started making profits again after being in the red since the October market crash.
The company’s goal is to have 5% of the total ETH supply, with the company repeatedly emphasizing its forceful belief in this asset and the Ethereum ecosystem.
With Bitmine’s current stake worth approximately $12.2 billion at current prices, Bitmine has a 67% chance of achieving this goal. data from the strategic ETH reserve.
“We are making rapid progress towards ‘5% alchemy’ and are already seeing synergies from our significant stakes in ETH,” Lee said.
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Shares of Bitmine (BMNR) are up 606% in the last six months, and the launch of play on the Ether network in June was a major boon for the company.
The company has outlined plans to combine staking on the Ether transport in early 2026 as it looks to generate more value for investors.
“We continue to make progress on our staking solution known as The Made in America Validator Network (MAVAN). It will be a ‘best-in-class’ solution offering a secure staking infrastructure and will be deployed in early 2026,” Lee said.
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