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Bitmine slows Ethereum buying ahead of 5 percent target

Bitmine Immersion Technologies has sharply slowed its pace of Ethereum buying, raising attention to softer demand from the biggest corporate buyer as a market variable. The company said it has secured 4.8 percent of circulating Ethereum after adding 7,391 ETH last week, its smallest weekly purchase this year. Bitmine has recently put more emphasis on buying back its own shares. Arkham Intelligence estimates Bitmine is at 96 percent of its 5 percent target.