Bitmine Immersion Technologies said it bought another 9,587 ETH, bringing its holdings to 6,070,092 ETH. At a reference price of $2,234 per coin, it valued that ETH at about $13.6 billion. The company said the holdings equal 4.97% of Ethereum’s supply, just short of its goal of owning 5%.
Bitmine reported $14.3 billion in total holdings as of Nov. 8, including cash and other investments. Chairman Tom Lee called Ethereum co-founder Vitalik Buterin’s statement that “ETH is a store of value, ETH is money” a “seismic shift” that supported Bitmine’s buying strategy.
