BitMine Boosts Ethereum Holdings with Latest Purchase

BitMine Immersion Technologies has bought an additional 10,000 ether over the past week, bringing its total holdings to 5.79 million ether.

This represents about 4.8 percent of Ethereum's total supply and makes BitMine the listed company with the largest amount of Ethereum in its corporate treasury strategy.

The purchase came as Ethereum outperformed Bitcoin over the past week, with ETH rising 2.4 percent while BTC fell 0.7 percent, according to CoinGecko data.

BitMine Chairman Tom Lee stated that the ETH/BTC ratio has reached its highest level in three months and that Ethereum's momentum is strengthening.