Summary
- BitMine Immersion Technologies has been confirmed to have recently made an additional $417 million purchase of Ethereum (ETH).
- The purchase is estimated to bring BitMine's ETH holdings to about 3,030,000, with an estimated valuation of about $12.2 billion.
- BitMine aims to secure 5% of Ethereum's total supply and said it will support the long-term expansion of Ethereum's role within financial infrastructure.
BitMine Immersion Technologies, an Ethereum (ETH) holding company, has been confirmed to have recently purchased an additional $417 million (about KRW 600 billion) worth of ETH.
On the 16th (local time), Lookonchain said, "BitMine received a total of 104,336 ETH into three new wallets via Kraken and BitGo." The transactions consisted of a total of 7 transfers, and the company has not yet issued an official statement.
If this purchase is reflected, BitMine's ETH holdings are estimated at about 3,030,000, with a valuation of about $12.2 billion. This would be the second-largest cryptocurrency company holding globally, following Michael Saylor's MicroStrategy.
BitMine aims to secure 5% of Ethereum's total supply and maintains it will support the long-term expansion of Ethereum's role within financial infrastructure.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
