Bitmine Snaps Up Nearly 10,000 Ether, Expands Crypto Holdings

Bitmine Immersion Technologies has purchased nearly 10,000 Ether (ETH), bringing its total holdings to 5.79 million ETH.

This represents about 4.8% of the total ETH supply, according to PR Newswire.

About 85% of Bitmine's ETH holdings are staked through its validator operations, with projected annualized staking rewards of approximately $299 million once all Ether is deployed.

The company made this purchase as part of an expanded stock buyback program and ongoing repurchases.