Bitmine nears 5 percent stake in Ethereum after massive purchase

Bitmine just flexed its buying power again. The firm snapped up another 28,086 ETH, pushing its total treasury to a staggering 5.93 million tokens. That single wallet now controls 4.9% of the entire circulating Ethereum supply, a level of concentration that's starting to turn heads in the DeFi space. At current prices, Bitmine's stash is valued at roughly $14.8 billion. They're not just participating in the network; they're becoming its biggest anchor. The company hasn't slowed its accumulation pace despite market volatility throughout the quarter. By hoovering up such a massive portion of the market, Bitmine is positioning itself as the ultimate Ethereum whale with enough weight to influence liquidity across major exchanges. The big question now is whether the firm stops here or pushes for a full 5% majority stake by the end of the month.