Crypto HeadlinesBitMine Increases Ethereum Reserves to 6 Million Tokens
BitMine Immersion Technologies has purchased an additional 12,535 Ethereum for approximately $30 million. This transaction allowed the corporation to increase its crypto assets, aligning with its stated accumulation strategy.
The company's total reserves have reached 6,041,481 ETH, valued at roughly $14.3 billion, which accounts for about 4.9% of the total Ethereum supply. To further replenish reserves, BitMine has $582 million in cash and liquid securities available.
A significant portion of assets is staked: 5,067,309 ETH (approximately $12 billion) or 84% of all coins on the balance sheet. According to aggregator Dropstab, the company's portfolio has an unrealized loss of $5.57 billion.
Tom Lee previously announced that BitMine would halt ETH purchases after reaching 5% of the network's total supply. About 63,500 Ethereum remain to be acquired to reach this target.
