Ethereum (ETH) Treasury News; BitMine (BMNR) Buys $821M Ether

BitMine Immersion Technologies has added 179,251 ether to its holdings, now exceeding 2.83 million tokens, which represents over 2% of the total supply of Ethereum (ETH). With this latest purchase, valued at approximately $821 million, the firm’s total crypto and cash reserves amount to $13.4 billion. This includes $456 million in cash and 192 bitcoin, as well as a stake in a Worldcoin-focused treasury firm. BitMine aims to control 5% of ether's supply, solidifying its position as the largest ether treasury holder, following the bitcoin-focused firm Strategy. The company’s stock has seen a pre-market increase of 4.3%, reflecting positive market movements in cryptocurrency prices. This strategy aligns with recent trends where publicly traded firms accumulate cryptocurrencies to generate yield through staking operations. BitMine seeks to emulate the successful acquisition strategies of other major firms in the cryptocurrency sector.

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