BitMine Immersion Technologies, Inc.
(NASDAQ:BMNR) shares traded higher on Monday after the company reported another increase in its Ethereum (CRYPTO: ETH) holdings.
BitMine Ethereum Accumulation BitMine bought 76,881 ETH last week, raising its total holdings to 5.62 million ETH, or about 4.66% of Ethereum's total supply.
The purchase brings BitMine 93% of the way toward its goal of owning 5% of Ethereum's 120.7 million supply by 2026.
The company has 4,718,677 ETH staked, with annualized projected staking rewards of $219 million as a cash-flow backstop.
