BitMine Immersion Technologies (NYSE American: BMNR) announced an increase in its cryptocurrency assets to $6.612 billion, adding 373,000 Ethereum tokens ($ETH ) in a week. According to the company, its portfolio includes 1,523,373 ETH at a price of $4,326 per token and 192 bitcoins. Thus, reserves increased from $4.9 billion to $6.6 billion, making BitMine the largest owner of Ethereum in the world and the second largest cryptocurrency treasury after Strategy Inc., which owns 628,946 $BTC worth $74.
BitMine launched its Ethereum accumulation strategy on June 30, completing its first transactions on July 8. Company head Thomas Lee stated: "In a week, we increased our ETH assets by $1.7 billion, reflecting the support of institutional investors in our goal to reach 5% of the total ETH supply." The company, backed by ARK Invest, Founders Fund, and Galaxy Digital, also noted high liquidity of its shares, with an average daily trading volume of $6.4 billion.
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