Bitmine Immersion Technologies said its crypto, cash, marketable securities and strategic investments reached $11.3 billion as the company continued expanding its position as the largest corporate Ethereum holder.
The company held 5,797,813 ETH as of August 2 after purchasing another 10,399 ETH during the previous week. The position was valued at approximately $10.9 billion using an Ethereum price of $1,880.
Bitmine said its holdings represent 4.8% of Ethereum’s total supply of approximately 120.7 million ETH, bringing the company closer to its goal of controlling 5% of the network’s supply.
Its remaining holdings include 209 Bitcoin, $173 million in cash and marketable securities, a $180 million investment in Beast Industries and a $61 million stake in Eightco Holdings.
Bitmine also repurchased 4.5 million common shares during the past week. The purchases brought its total repurchases since July 1 to 16.1 million shares under a previously authorized $4 billion program.
