BitMine purchases 102,259 Ethereum last week… holdings exceed 3.97 million

Minseung Kang

Summary

BitMine Immersion Technologies said it purchased an additional Ethereum 102,259 last week, increasing its total holdings to 3,967,210 ETH.
This represents about 3.2% of the total Ethereum supply, and the company's total assets were reported at $13.3 billion.
BitMine said it is pursuing a strategy to secure 5% of the Ethereum supply in the long term.

BitMine Immersion Technologies, the world's largest holder of Ethereum (ETH), was reported to have secured more than 100,000 additional Ethereum last week.

According to PR Newswire on the 15th, BitMine purchased an additional 102,259 Ethereum over the past week, increasing its holdings to 3,967,210 ETH. This represents about 3.2% of the total Ethereum supply.

At the same time, BitMine's total assets, including virtual assets, cash and other investment assets (Moonshot), were reported at $13.3 billion. Holdings include 3,967,210 ETH, 193 Bitcoin (BTC), a $38 million stake in NASDAQ-listed Eightco Holdings, and $1 billion in cash.

Tom Lee, co-founder of Fundstrat and chairman of BitMine, said, "We increased our Ethereum holdings by more than 100,000 last week," and added, "We view this as a sign that cryptocurrency prices are stabilizing and entering a recovery phase following the market shock in October."

The company has presented a long-term goal to secure 5% of the Ethereum supply, the so-called 'Alchemy of 5%' strategy.

ETH