Altcoins▲ Bullish

Bitmine Buys $20M More Ether, Nears Its 5% Supply Goal

TradingGain Newsroom·20h ago·09 Nov 2026, 17:08 UTC

Bitmine, a firm chaired by Tom Lee, added $20 million of Ethereum, bringing its holdings to 6.07 million ETH. That is about 4.97% of the total supply and nearly reaches its "Alchemy of 5%" target. Lee tied the move to Vitalik Buterin's comments that ETH is money, calling them a "seismic shift."

ETHAt the time of writing, Ethereum traded at $2,126 (-4.44% in 24h).Live price →

Why it matters

Bitmine's latest $20 million purchase adds to a large holding of 6.07 million ETH.
Its stash equals 4.97% of ETH supply, close to its stated 5% goal.
Lee linked the buying to Buterin's view that ETH is money, which may support sentiment.

What to watch next

Watch whether Bitmine completes its Alchemy of 5% goal and how ETH's price reacts to any further large purchases.

ETHLive chartOpen full chart →

This brief is written by TradingGain from public reporting by Decrypt.Read original ↗

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