#binance #hype #zec #near
24/07/25 18:51 UTC-04

BitMine Boosts Ethereum Holdings to $2 Billion

BitMine Immersion Technologies has once again reaffirmed its position as the largest holder of Ethereum. The company has increased its cryptocurrency balance to 566,776 ETH, now valued at over $2 billion. This was made possible after the firm completed a $250 million private stock placement.

“We’ve surpassed $2 billion in ETH assets just sixteen days after closing our $250 million private placement. We are confidently moving toward our goal of acquiring and staking 5% of the total ETH supply,” said BitMine Chairman Thomas Lee.

BitMine’s strategy is also built around Ethereum’s price growth, claiming that the volatility of the leading altcoin is an opportunity rather than a problem.

“We’re committed to Ethereum’s continued growth and are excited to implement our crypto treasury management strategy,” said BitMine CEO Jonathan Bates.

The average acquisition price for Ethereum was $3,643. On the evening of July 24, the altcoin was trading at $3,734. Over the past 24 hours, it rose by nearly 4.10%, and over the past week, it gained more than 8.80%.

See also: "Major U.S. Bank PNC Launches Cryptocurrency Trading Services"

#Ethereum (ETH) #Reserves

Editor: Pereyidenko Ihor
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