Company
US-listed company (BitMine Immersion Technologies, ticker BMNR) that runs the largest corporate ether treasury, accumulating ETH toward 5% of total supply.
BitMine, which holds about 4.9% of ether's supply, plans to stop buying at 5%, roughly 100,000 tokens or $250 million away. The sum is small; the loss to ether is the weekly bid after it, at a pace the report does not give.
Reality
Strive's 1,800 coins and Strategy's 4,603 put balance-sheet demand back on the tape, though the pioneer still holds 2,313 fewer bitcoin than it did in June and the newer bid is funded by a preferred paying 13 percent.
Perspective Coverage
3 publishersReality
Ether rose 9.76% in the past month, heading for its best September since 2016 against an 8.57% average September loss. Leveraged longs on Hyperliquid pay funding to hold the gain, while the treasury-firm evidence is mostly coins already held.
Reality
The protocol clears about 57,600 ETH a day in each direction. With 1.8 million ETH lined up to enter and an implied 132,000 waiting to leave, getting into staking takes a month and getting out takes days.
Reality
The Miami treasury company is sending about 106,000 ETH, roughly 12% of its stack, into a receipt token custodied at Anchorage. Passive holding is becoming collateral.
Reality