Bitmine Immersion Technologies, the ether treasury firm helmed by Chairman Thomas “Tom” Lee, bought 101,901 ETH through last week, pushing its total holdings above 5 million tokens of the second-largest cryptocurrency.
The purchase lifted the firm’s ETH treasury to 5,078,386 tokens, or about 4.21% of ether’s circulating supply, according to a Monday update. Bitmine reached that milestone in roughly 10 months, since it pivoted to a digital asset treasury strategy company from a bitcoin miner in June.
The latest purchase, worth roughly $236 million at current ETH prices, extends a streak of larger weekly purchases as Bitmine adds to its position while most digital asset treasuries remain on the sidelines.
The firm’s total crypto and cash holdings stand at $13.3 billion. Alongside its ETH position, the firm holds 200 bitcoin, $940 million in cash and equity stakes including investments in Beast Industries and Worldcoin-focused Eightco Holdings.
Source: X.com
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