Bitmine Snaps Up Another $19.6 Million in Ether, Closing In on 5% Supply Goal

Bitmine Immersion Technologies has continued to accumulate Ethereum (ETH) as part of its digital asset strategy. The company purchased 10,399 ETH last week, valued at approximately $19.6 million at the time of purchase.

This latest acquisition brings Bitmine's total Ether holdings to 5,797,813 ETH, which is worth around $10.9 billion. This represents about 4.8% of Ethereum's circulating supply, currently standing at roughly 120.7 million ETH.

Bitmine has stated its long-term goal of owning 5% of all ETH in circulation and appears to be moving closer to achieving this target with each new purchase.