Bitmine Boosts Ether Holdings with $19.5 Million Purchase

Bitmine, the world's largest publicly traded corporate holder of Ether (ETH), has made another significant purchase of the cryptocurrency. According to data from Onchain Lens on July 31, a wallet linked to Bitmine acquired 10,460 ETH through FalconX, an institutional crypto brokerage. This transaction valued at approximately $19.48 million implies an average purchase price of around $1,862 per Ether.

Bitmine's strategy involves securing 5% of Ethereum's total supply, with a target holding of about 6.03 million ETH. As of July 27, the company held 5,787,414 ETH, which represents approximately 4.8% of the total supply. Its total assets, including crypto holdings and cash, were estimated at $11.8 billion.