Bitmine Bolsters Ethereum Holdings with $16.1B Acquisition

Bitmine Immersion Technologies (BMNR) has acquired an additional 27,562 Ethereum (ETH), bringing its total holdings to approximately 5.98 million ETH as of September 20.

This acquisition represents a significant boost for the company's Ethereum treasury, with its new holdings accounting for 4.9% of the total Ethereum supply.

Notably, Bitmine has already staked nearly 85% of its ETH holdings, totaling around 5.07 million ETH, valued at approximately $13.6 billion using a reference price of $2,688 per ETH.

The company's overall treasury includes cash and marketable securities worth around $714 million, bringing the combined value to approximately $17.1 billion.