Bitmine lifts Ethereum treasury to 4.53 million ETH after adding 60,976 tokens in a week amid ‘mini-crypto winter’
The Block
Bitmine expanded its Ethereum holdings to over 4.53 million ETH after acquiring 60,976 tokens in one week.Summary
Bitmine Immersion Technologies (BMNR) has increased its Ethereum treasury to 4,534,563 ETH, representing about 3.76% of the circulating supply, after spending approximately $120 million to acquire 60,976 ETH in the past week. Valued at roughly $8.9 billion, this ETH stack forms the core of the firm's $10.3 billion in combined crypto and cash holdings. A significant portion, 3,040,483 ETH, is staked, generating estimated annualized revenue of $174 million. Chairman Tom Lee stated that the company accelerated purchases believing the market is entering the final phase of a 'mini-crypto winter,' aiming for an internal target of controlling 5% of Ethereum's total supply.
(Source：The Block)