Bitmine Immersion Technologies purchased 75,000 ETH worth $123 million from Kraken and FalconX, pushing its treasury past 5% of total Ethereum supply.

Bitmine purchased 126,971 ETH for about $207M, lifting its treasury to 5.54M tokens worth $9B as ether trades near 30% below its April highs.

Bitmine increased its Ether treasury to 5.54 million ETH and now controls 4.59% of Ethereum's supply, while more than 4.7 million ETH remains staked.