Bitmine Gets Within About 40,000 ETH of Tom Lee’s 5% Target After Another Week of Buying

Bitmine Immersion Technologies (BMNR) added 9,587 ETH over the past week, bringing its stack to 6,070,092 ETH , or 4.97% of Ethereum’s 122.2 million token supply, the company said on Monday . By Unchained’s math, 5% of the ETH supply comes to 6.11 million ETH. That leaves Bitmine roughly 39,900 ETH short of chairman Tom Lee’s goal, or about $89 million at the $2,234 per-token price the company used. At last week’s pace, the remaining amount would take a little over four weeks to buy. Lee has framed the 5% mark as a stopping point. “Tom Lee said he won’t hold more than 5% of ETH supply. Currently he holds about 4.9%.

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