BitMine Immersion continued accumulating Ethereum last week, purchasing another 15,112 ETH and lifting its holdings to approximately 6.016 million tokens. The treasury was worth around $16.16 billion at the reported market price and represented approximately 4.9% of ETH's circulating supply. The company said it was roughly 98.5% of the way toward its goal of holding 5% of the supply, a strategy it calls the “Alchemy of 5%.” https://twitter.com/BitMNR/status/2107086256010408071 The latest acquisition extends BitMine's buying streak as Ethereum consolidates following a strong third quarter. It also contrasts with recent withdrawals from US spot Ethereum exchange-traded funds, showing that demand differs across investment channels. While BitMine continues expanding its direct holdings, ETF investors have recently reduced their exposure.