Key facts
- Bitmine Immersion Technologies acquired 10,399 Ether last week.
- Bitmine's Ether holdings now represent approximately 4.8% of the circulating supply.
- The company aims to reach a target of 5% of Ether's total supply.
- Bitmine repurchased 4.5 million common shares last week.
- The company's total investments, including crypto, cash, and securities, are valued at $11.3 billion.
Ether treasury company Bitmine Immersion Technologies has expanded its cryptocurrency holdings by acquiring an additional 10,399 Ether last week, a move that brings its total Ether reserves to approximately 4.8% of the cryptocurrency's circulating supply. The company has set a target to acquire 5% of the total Ether supply.
In addition to its Ether accumulation, Bitmine also repurchased 4.5 million of its common shares last week as part of an ongoing stock buyback program. Since July 1, the company has bought back a total of 16.1 million shares under its previously authorized $4 billion program.
As of Monday, Bitmine reported holding 5,797,813 Ether, valued at $10.9 billion. The company's total investments, which include 209 Bitcoin, $173 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings, are valued at $11.3 billion.
This latest disclosure follows a previous announcement on July 28, where Bitmine reported purchasing nearly 10,000 Ether, noting that approximately 85% of its Ether holdings were staked through its validator operations.