BitMine Adds Nearly $20M Worth of ETH to Its Holdings

BitMine Immersion Technologies has added to its Ethereum holdings by purchasing 10,399 ETH. This move brings the company's total ETH holdings to 5,797,813, which represents 4.8% of the Ethereum supply. The purchase is part of BitMine's weekly accumulation strategy, where it continues to buy large quantities of ETH.

The value of the recent purchase totals $19 million, and the average buy price was around $1,880 per ETH. This adds to the company's existing portfolio, which includes 4,917,189 staked ETH with an estimated value of $9.2 billion and annualized staking rewards of $247 million.

The staking rewards may vary depending on staking yields and validators' performance. The Ethereum price can also influence the dollar-denominated rewards.