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Bitmine (BMNR) has acquired 3.97 million ETH, or 3.28% of the total supply, moving 66% toward its 5% target. The firm plans to buy an additional 2.03 million ETH, likely through market and OTC purchases to limit ETH price swings. The move has raised concerns about governance control and decentralization risks. ETH analysis suggests the accumulation could affect market dynamics and institutional influence in the Ethereum network.

In accordance with BitcoinWorld, Bitmine (BMNR) has accumulated 3.97 million ETH, representing 3.28% of the total Ethereum supply and 66% of its goal to control 5% of all ETH. The company is expected to acquire an additional 2.03 million ETH to reach its target, raising questions about market impact, governance influence, and price stability. Bitmine's strategy likely involves a mix of market purchases and OTC deals to minimize price slippage. The accumulation has sparked debate over decentralization risks and institutional influence in the Ethereum ecosystem.Source:Show originalDisclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.