Bitmine Surpasses $15 Billion in Crypto Holdings, Now Holds 4.9% of Ethereum Supply

Bitmine Immersion Technologies has acquired 28,086 Ethereum tokens over the past week, bringing its total holdings to 5,929,198 ETH. This represents a significant increase in the company's Ethereum treasury and accounts for 4.9% of the total Ethereum supply.

The acquisition was made at an average price of $2,495 per ETH, valuing Bitmine's holdings at approximately $14.8 billion. The company now holds 5,067,309 ETH, valued at $12.6 billion, which are staked via its MAVAN platform and staking partners.

Bitmine Chairman Tom Lee stated that the top-performing assets since June 30th are Ethereum (ETH), Bitcoin (BTC), and SOL. He believes this outperformance by crypto versus other macro assets sets the stage for institutions to add to their crypto holdings.