"Bitmine Chairman Tom Lee stated that the pace of accumulation has been faster than anticipated, reaching over 5 million ETH in just 10 months. This is a major milestone as the Company moves towards acquiring 5% of the ETH supply."
"Recent research reports argue that ETH is a store of value and will increasingly be used as collateral in financial transactions. This new role for ETH has been demonstrated by its significant outperformance since the Iran War began."
Bitmine Immersion Technologies has accumulated 5,078,386 ETH, valued at approximately $12 billion, which constitutes 4.21% of the total Ethereum supply. The company aims to reach 5% ownership of all circulating ETH. Bitmine's MAVAN platform is designed for institutional staking, projecting an annual reward rate of $363 million. The rapid accumulation of ETH has been attributed to favorable macroeconomic conditions, with Ethereum outperforming the S&P 500 by 1,696 basis points since the onset of the Iran War.
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]