BitMine's Record-Breaking ETH Purchase Boosts Price Hopes to $2,000

BitMine Immersion Technologies has added another 10,399 ETH to its treasury, increasing its total holdings to nearly 5.8 million Ethereum.

This purchase brings BitMine's overall value to around $11.3 billion, with its crypto assets, cash, securities, and investments totaling approximately $11.3 billion.

The company now owns about 4.8% of Ethereum's total supply and needs another 237,187 ETH to reach its goal of holding 5% of all Ethereum in circulation.

BitMine expects its staked ETH to bring in around $291 million in annual staking rewards.