BitMine Buys 101,627 More Ether, Raising Holdings to 4.12% of Total Supply

BitMine, an Ethereum treasury company, bought an additional 101,627 Ether last week.

According to a PR Newswire release dated April 20, the purchase lifted BitMine’s total Ether holdings to 4.976 million tokens.

That amounts to about 4.12% of Ethereum’s total supply of roughly 120.7 million.

BitMine Chairman Tom Lee said Ethereum’s recent price rebound suggests the digital-asset market is entering a recovery phase. The spread of blockchain-based finance and growing demand for artificial intelligence are helping drive the gains, he added.