BitMine Acquires $136 Million in Ether Following $274 Million Capital Raise
- BitMine Immersion Technologies (BMNR) purchased 76,881 ether (ETH) worth approximately $136 million.
- The company’s total ETH holdings now stand at 5.62 million ETH.
- BitMine also holds $502 million in cash and marketable securities, along with stakes in Beast Industries and Eightco Holdings.
- Total assets, including crypto and investments, amount to $10.4 billion.
- The recent acquisition follows a larger purchase of over 126,971 ETH the previous week.
The latest purchase indicates BitMine’s ongoing commitment to accumulating Ethereum despite previous comments about slowing down acquisitions as they approach their goal of owning a significant portion of Ethereum’s supply.
Following a preferred stock sale that raised $274 million with a dividend of 9.5%, BitMine continues to expand its treasury by purchasing more ETH, reflecting their strategy amidst market fluctuations. (Source)
