Bitmine Bolsters Ethereum Holdings to Over 4.5M ETH
Bitmine Immersion Technologies has significantly increased its Ethereum reserves to over 4.53 million ETH, making it the largest known corporate holder of the cryptocurrency.
The company acquired 60,976 ETH worth approximately $120 million over the past week, bringing its total Ethereum treasury to 4,534,563 ETH, representing about 3.76% of Ethereum's circulating supply.
At a market price of roughly $1,965 per ETH, Bitmine's holdings are valued at approximately $8.9 billion, making Ethereum the dominant component of the company's digital asset balance sheet.
A significant portion of Bitmine's Ethereum reserves is actively generating yield through staking on the Ethereum network, with 3,040,483 ETH, or about two-thirds of its total holdings, currently staked.