Bitmine Immersion Technologies, chaired by Tom Lee, acquired an additional 9,926 ETH during the week ending August 16, bringing its total holdings to 5,815,164 ETH, representing approximately 4.8% of Ethereum’s circulating supply. This stash is worth roughly $11 billion at current prices. The purchase was made at prices ranging from $1,893 to $1,904 per ETH, totaling approximately $18.8 to $18.9 million. BMNR shares climbed approximately 4% following the announcement. Over 80% of Bitmine’s holdings are staked through its MAVAN platform, and the company is nearing its stated goal of owning 5% of Ethereum’s circulating supply, which it calls the « Alchemy of 5% ».
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