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The accumulation cycle for institutional $ETH has arrived at a notable concentration threshold.
Bitmine Immersion Technologies (BMNR) disclosed that its Ether holdings stand at 5.77 million tokens, equal to 4.8% of the 120.7 million tokens in current circulation, with total cryptocurrency and cash assets reaching $11.3 billion.
The 5% target and how fast Bitmine got there Bitmine frames its accumulation strategy around a self-described "Alchemy of 5%," a level at which the company would hold roughly one in every twenty tokens in Ether's circulating supply.
By the company's own account, it has covered 96% of that distance in twelve months. That rate of accumulation is the operative fact.
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