BitMine Immersion Technologies has significantly expanded its Ethereum treasury after purchasing 102,259 ETH this week, taking its total holdings to approximately 3.97 million tokens.
At current levels, this gives the firm control of more than 3.2% of Ethereum’s circulating supply, with an average acquisition cost of $3,074 per ETH.
The company attributed the rapid accumulation to strong belief in a crypto supercycle, driven by recent Ethereum upgrades, shifts in Federal Reserve policy expectations, and increasing Wall Street interest in asset tokenization on the Ethereum blockchain.
BitMine’s broader digital asset portfolio, which includes Bitcoin, cash, and minority investments, is valued at $13.2 billion. With its latest purchase, the company reiterated its ambition to raise its Ethereum exposure to 5% of total supply, underlining a long-term strategic commitment to ETH.
You need to login in order to Like
Leave a comment