BitMine Immersion (BMNR.US) Steadily Advances Coin Accumulation Strategy: Acquires Additional 24,000 Ethereum, Holdings Value Reaches $12.6 Billion

Stock News
Oct 10

BitMine Immersion Technologies Inc. (BMNR.US) has purchased over $103 million worth of Ethereum, bringing its total Ethereum reserves to $12.6 billion. According to data from October 10th, the company acquired an additional 23,823 Ethereum tokens (valued at approximately $103.68 million) from BitGo. This latest acquisition increases the company's total Ethereum holdings to 2.87 million tokens, worth $12.6 billion at current market prices.

BitMine continues to accumulate Ethereum through equity raises and strategic acquisitions, following a strategy that mirrors Michael Saylor's approach with MicroStrategy (MSTR.US). The company's objective is to hold 5% of the global circulating Ethereum supply.

BitMine remains committed to its "shares-for-coins" strategy. The company, which has been aggressively acquiring Ethereum, previously announced a $365.24 million registered direct offering along with details of its related asset holdings.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10