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Bitmain Immersion Technologies (BMNR) reported that it holds nearly $500 million in Ethereum as of July 14, according to the company's statement. These reserves consist of 163,142 tokens of Ethereum valued at $3,072.67 per token based on Bloomberg data.
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The company completed a private placement of $250 million on July 9 to support its financial strategy focused on accumulating Ethereum. The current reserves represent more than double the initial proceeds from the private equity investment deal.$ETH