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Bitmine buys $20M more ETH, nearing 5% ownership as Vitalik Buterin calls ETH a store of value.

Market News
09 Nov 2026, 19:20 WIB
Bitcoin
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Bullish
Bitmine buys $20M more ETH, nearing 5% ownership as Vitalik Buterin calls ETH a store of value.

Bitmine Immersion Technologies purchased 9,587 ETH, bringing its total holdings to 6.07 million tokens, or about 4.97% of Ethereum's circulating supply, close to its 5% target. Chairman Tom Lee praised Ethereum co-founder Vitalik Buterin's recent remarks that ETH should be viewed as a store of value, marking a significant shift in how the cryptocurrency's value is perceived. Bitmine's holdings are worth over $12.9 billion, with 86% staked generating $309 million annually. The company plans to stop buying once it reaches 5% ownership, reinforcing its strategy amid growing tokenization and blockchain adoption.

Bitmine's recent Ethereum purchase provides context for cryptocurrency market activity. For readers following major cryptocurrencies, 31 of 50 rose while 18 fell on Pluang today. Notable movers include AVAX at Rp157.697 (+6.73%), BAT at Rp2.367 (+6.04%), and XRP at Rp19.773 (-5.26%). This data is as of Nov 10, 2026 00:22 WIB.

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