BitMine Acquires 1% of Total Ethereum Supply – $1.7 Billion Purchase in Just One Week
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Aug 18 2025
BitMine's Acquisition: BitMine has acquired assets worth $1.7 billion, increasing its total assets to $6.6 billion and making it the second-largest holder of Ethereum (ETH) with over 1% of the circulating supply.
Institutional Interest: The company's president, Tom Lee, noted that institutional interest is strengthening their strategy to target 5% of the ETH supply.
Comparison to Historical Financial Shifts: Lee compared BitMine’s aggressive strategy to significant U.S. policy changes, likening it to the end of the Bretton Woods system in 1971, which transformed the financial landscape.
Market Positioning: With rising institutional adoption and tightening supply, BitMine aims to be a key player in the evolving Ethereum financial ecosystem.
About the author
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Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
