Summary
- BitMine Immersion Technologies announced that the value of its held Ethereum (ETH) has surpassed $500 million.
- According to BitMine, the company currently holds 163,142 Ethereum with an average purchase price of $3,072.
- Thomas Lee, Chairman of the Board, stated that this proves the effectiveness of the Ethereum reserve strategy funded by $250 million.
The value of Ethereum (ETH) held by the mining company BitMine Immersion Technologies, listed on the New York Stock Exchange, has surpassed $500 million.
According to PR Newswire on the 14th (local time), BitMine announced via a press release, "The value of Ethereum held by the company has exceeded $500 million," adding, "We currently hold 163,142 Ethereum, with an average purchase price of $3,072."
Thomas Lee, Chairman of the Board at BitMine, stated, "After securing $250 million in funding, the company's assessed Ethereum amount has surpassed $500 million," adding, "This proves that our strategy of accumulating Ethereum has been effective."
Previously, BitMine raised $250 million for its Ethereum reserve strategy.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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