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Guavy AI Editorial Team••Sentiment: 3•Clout: 82

BitMine Boosts Ethereum Holdings with $136M Purchase

BTCETH

BitMine Immersion Technologies has acquired a significant amount of Ethereum over the past week, purchasing 76,881 ETH worth approximately $136 million at current prices.

This acquisition brings BitMine's total holdings to 5,620,754 ETH and follows a preferred stock offering that raised roughly $274 million in net proceeds.

The company now holds a substantial stake in Ethereum, representing about 4.66% of the total supply of around 120.7 million ETH, with its goal being to own 5% of Ethereum's circulating supply.

BitMine also holds other significant assets, including 204 Bitcoin, $502 million in cash and marketable securities, and stakes in Beast Industries and Eightco Holdings, bringing its total crypto, cash, and investment holdings to approximately $10.4 billion.