Bitmine Closes In On 5% Ethereum Target With Latest $69.5M Acquisition

Bitmine Immersion Technologies has made another major Ethereum purchase, acquiring 28,086 ETH worth approximately $69.5 million at prevailing market rates.

This brings Bitmine's total Ethereum holdings to 5.93 million ETH, acquired at an average price of $2,495 per coin.

The company now owns nearly 5% of the circulating Ether supply, edging closer to its goal of accumulating 5% of the entire Ether market within 15 months.