Bitmine Snaps Up 32,447 ETH as Ethereum Breaks Above $2.5K

Bitmine Immersion Technologies continued its aggressive buying spree of Ether last week, snapping up 32,447 ETH as the cryptocurrency surged past $2.5K.

The purchases brought Bitmine's total holdings to 5,847,611 ETH, representing roughly 4.8% of Ethereum's circulating supply.

This marks the 14th consecutive month that Bitmine has bought Ether, with its NYSE-traded shares up about 8.7% at the start of the week and having gained nearly 28% over the past six months.

The company is now 97% of the way towards its goal of owning 5% of the ETH supply, with a significant portion staked: 5.07 million ETH, or about 87% of its holdings.