BitMine Adds $102.05M in Ethereum, Pushing Holdings Above $8.97B and 3.7% of Supply

BitMine purchased an additional $102.05M worth of Ethereum over the past week, bringing its ETH holdings to about $8.97B, or more than 3.7% of circulating supply, Arkham Research reports. Roughly 67% of BitMine's ETH stack is staked and valued slightly above $6B, while the firm carries around $7B in unrealized losses but continues pursuing a long-term goal of owning 5% of circulating ETH. Over the same period, ether traded between support near $1,840 and resistance at $2,000, briefly jumping about 8% early Monday to touch $2,000 for the first time since Feb. 25 before retreating 6.44% to around $1,956, and large holders have also started accumulating. Strategy bought 3,015 BTC for about $204.1M at roughly $67,700 per coin, lifting its total to 720,737 BTC acquired for approximately $54.77B at an average near $75,985.