BitMine Adds $19M in ETH to Holdings Amid Ongoing Accumulation Strategy

BitMine Immersion Technologies added 10,399 ETH to its holdings during the week ended Aug. 2, increasing its total Ethereum stash to 5,797,813 tokens.

This represents a significant 4.8% of the total Ethereum supply, which stands at 120.7 million tokens.

BitMine's latest purchase is part of its ongoing strategy of weekly accumulation, which it adopted last year. The company has been repurchasing shares under its existing $4 billion buyback program, with 4.5 million shares repurchased in the same week.