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Bitmine adds 53,501 ETH, pushing its Ethereum stake to 4.9%

The NYSE-traded BMNR shares were up 1.3% to $24.09, after the company’s 65-week buying streak raised holdings to more than 5.9 million ETH.

Reported · Written up by our desk · Ethereum

Bitmine Immersion Technologies extended its Ether buying streak to 65 consecutive weeks, adding 53,501 ETH last week as the broader crypto market recovery increased the value of its digital asset portfolio, according to Cointelegraph. The latest purchase brought Bitmine’s holdings to more than 5.9 million ETH, valued at roughly $14.8 billion based on an ether price of $2,511 as of Sunday. With those holdings, the company now controls 4.9% of Ethereum’s 120.7 million circulating supply and is nearing its stated 5% goal. Cointelegraph reports Bitmine chairman Tom Lee said Ether, Bitcoin, and Solana have been the three best-performing major assets since June 30, with ETH leading the gains. The outlet also noted Bitmine is sitting on roughly $5.1 billion in unrealized losses on its Ether holdings. Following the latest purchase, Cointelegraph said BMNR shares were up 1.3% on Monday morning at $24.09 and were poised to end the month with an almost 40% increase, based on Yahoo Finance data.

Latest closeBitcoin $78,863.32 ▲1.5%|Ethereum $2,478.70 ▲2.5%|Solana $103.69 ▲1.8%

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