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.