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Crypto

BitMine buys another 127,000 ether, raises holdings to 4.59% of supply

BitMine Immersion Technologies has increased its ether holdings to 5,543,872 ETH, equivalent to 4.59% of total ether supply. The company bought about 127,000 ETH over the past week, moving closer to its goal of holding 5% of supply, which it calls “Alchemy of 5%.” It said 4.72 million ETH is staked and outlined expected annualised returns from staking. The firm also reported holdings of 204 bitcoin and $247 million in cash.

Crypto

Standard Chartered says Ethereum era to overtake Bitcoin has arrived after Strategy selloff

Standard Chartered has raised its year-end ETH/BTC target ratio to 0.040 from about 0.028, saying Ethereum started to outperform Bitcoin from Monday. The shift followed a small Bitcoin sale by Strategy, the largest listed holder, which sold 32 BTC for about $2.5 million to pay preferred dividends. The bank’s Geoffrey Kendrick said the sale itself was tiny but highlighted differences between Bitcoin treasuries and Ethereum’s staking-based cash flow.

Crypto

Bitmine holds 4.49% of total Ethereum supply, slows buying pace

Bitmine, an Ethereum treasury company, has sharply slowed the pace of additional Ethereum purchases over the past week. As of May 31, it held 5,416,901 ETH, equal to 4.49% of Ethereum’s total supply of 120.7 million ETH. Weekly acquisitions fell to 26,497 ETH from 111,942 ETH a week earlier. The company has highlighted a goal of reaching 5% ownership, which its chairman said could be achieved in 2026.