BitMine Immersion Technologies added 28,086 ETH over the past week, lifting its treasury to 5,929,198 ETH as the company approached its target of owning 5% of Ethereum’s supply.
The company valued the position at about $14.79 billion using a Coinbase reference price of $2,495 as of 2 p.m. ET on Sept. 7, according to a press release furnished to the U.S. Securities and Exchange Commission. BitMine reported that the position represented 4.9% of a 122 million ETH supply.
For shareholders, the purchase increased BitMine’s exposure to ETH, but its aggregate reported holdings value rose by only $100 million from the prior weekly headline figure. The company reported $15.7 billion of crypto, cash, marketable securities and other investments, up from $15.6 billion on Aug. 31. Those totals are market-value snapshots rather than measures of what BitMine paid for its assets.
The latest disclosure did not provide an updated average ETH acquisition price. As a result, the $14.79 billion valuation cannot be directly compared with BitMine’s aggregate cost basis from the release alone.
The latest total also included 211 BTC, $593 million in cash and marketable securities, and stakes valued by BitMine at $180 million in Beast Industries and $91 million in Eightco Holdings.
