BitMine Expands Ethereum Holdings Amid Significant Financial Losses

Community Trust Score Verified 83 % Real Verified 42 votes Updated 4 hours ago What Happened BitMine Immersion Technologies has just purchased an additional 12,532 ETH . The company now holds 4.9% of the total Ethereum supply — estimated at 122.1 million tokens — and spent about $31.9 million on this acquisition. Not insignificant. However, the combined value of its crypto assets, cash, and strategic holdings still plummeted by $1.2 billion in seven days, dropping from $17.4 billion to $16.2 billion. The reason? Ethereum fell by 6.7% over the week, and some strategic holdings also lost value as a result.