Bitmine could reach 5% of ETH supply by early November: Cointelegraph

Bitmine could secure 5% of Ethereum’s total supply by early November if it maintains its recent pace of purchases, Cointelegraph reported. Analyzing 12 weekly reports from July 13 to Sept. 28, the outlet said the Ethereum accumulation firm bought about 259,000 ETH over that period, or an average of 21,600 ETH per week. As of Sept. 27, Bitmine held 6,001,302 ETH, equal to 4.9% of total supply of 122.1 million ETH. Reaching 5% would require about 6.105 million ETH, leaving roughly 103,700 ETH to go. At the average buying pace of the past 12 weeks, that would take about 4.8 more weeks, although the actual timing could vary depending on the size of future purchases.