BitMine Immersion Technologies made its largest Ethereum acquisition yet this year—just weeks after saying it might slow down its ETH buys.
In brief
BitMine added nearly 112,000 ETH valued around $237 million last week, its biggest ETH-denominated buy this year.
The firm now holds nearly 5.4 million ETH and is greater than 88% of the way to its pursuit of 5% of the circulating token supply.
Shares of BMNR have jumped more than 4% in early trading on Tuesday.
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BitMine Immersion Technologies Inc. (NASDAQ:BMNR) purchased 71,672 Ethereum
BitMine Immersion Technologies Inc. (NASDAQ:BMNR) purchased 111,942 Ethereum
The Ethereum treasury firm bought over 71,000 ETH last week, a sharp increase from the previous week's purchases.
Bitmine holds 5.28M ETH worth $11.5B, staking 4.7M tokens at $289M annual yield as Tom Lee eyes the 5% supply target.
"We view the recent pullback of ETH to below $2,200 as an attractive opportunity," Bitmine Chairman Tom Lee said.
Bitmine lifted its ether treasury to 5.28 million ETH, or 4.37% of supply, as total crypto and cash holdings reached $12.6…
