Bitmine buys 19.6 million in Ether as 5 percent supply goal nears

Bitmine isn't slowing its accumulation strategy. The firm just poured another $19.6 million into Ether, bringing its total treasury to roughly 4.8% of the asset's total circulating supply. It's a calculated bet on the second-largest cryptocurrency that puts the company within striking distance of its stated 5% ownership target. Beyond the token spree, Bitmine is tightening its own capital structure. The firm confirmed it repurchased 4.5 million shares, a move that typically signals confidence to investors while boosting the value of remaining stock. They've spent months aggressively vacuuming up ETH, treating the protocol's native token like a primary reserve asset rather than a side trade. By moving nearly $20 million in a single clip, they're proving that the 5% milestone isn't just a hypothetical goal—it's an imminent reality. The market is now watching to see if Bitmine stops at its original ceiling or keeps buying once the 5% threshold breaks.