BitMine Doubles Down on Ethereum with $15.7 Billion Stash

BitMine Immersion Technologies (BMNR) has continued to expand its Ethereum holdings. In its latest purchase, the company added 27,180 ETH to its treasury, pushing the total number of tokens to 5,956,378. This significant addition brings BitMine's Ethereum stash to a substantial $15.7 billion, based on an ether price of $2,513 per token.

This marks a slight increase from the company's previous Ethereum holdings, which stood at 5.93 million tokens just a week prior. The valuation of BitMine's combined crypto, cash, and moonshot holdings remains steady at $15.8 billion as of September 13. Notably, the company recently switched its staking strategy to a flat 1.50% validator fee.