Bitmine Amasses Over $69M in Latest ETH Purchase

Bitmine Immersion Technologies has made another significant purchase of Ether (ETH), bringing its total holdings to 5.93 million, acquired at an average price of $2,495 per ETH.

The company bought 28,086 ETH last week, which is currently worth about $69.5 million, according to a Tuesday announcement.

This purchase brings Bitmine closer to management's goal of accumulating 5% of the total Ether supply within 15 months.

Bitmine has already completed 97% of its target and now holds approximately 4.9% of Ethereum's 120.7 million circulating supply.

The company, led by chairman Tom Lee, currently ranks as the world's largest publicly listed Ether treasury with a total of $15.7 billion in assets, including $593 million in marketable securities and cash.