Bitmine purchased an additional 53,501 ETH, drawing closer to the milestone of holding 5% of Ethereum’s supply. Bitmine Immersion Technologies acquired an additional 53,501 ETH last week, extending its consecutive streak of Ether purchases to 65 weeks. This transaction increased Bitmine’s total ETH holdings to over 5.9 million ETH, valued at approximately $14.8 billion based on an Ether price of $2,511. The company now controls about 4.9% of Ethereum’s total circulating supply of 120.7 million ETH, nearing its goal of holding 5%. Chairman Tom Lee noted that ETH, Bitcoin, and Solana have been the three top-performing assets since June 30, potentially encouraging institutions to increase their crypto allocations. Despite the market recovery, Bitmine still reports approximately $5.1 billion in unrealized losses on its ETH holdings. Meanwhile, BMNR stock listed on the NYSE rose 1.3% to $24.09, on track for a nearly 40% monthly gain.
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