BitMine Immersion Technologies (BMNR) has reportedly acquired 23,823 Ethereum (ETH), valued at roughly $103.68 million.
The buy was followed through from Arkham data, as reported by Lookonchain, showing the transactions from the BitGo wallet belonging to the firm. With this, the company now has approximately 2.83 million ETH in its holding, worth about $12.4 billion.
This makes the company the largest corporate holder of Ethereum and gives it the second-largest crypto treasury overall, only behind Michael Saylor-led Strategy’s Bitcoin treasury.
Fundstrat Co-Founder and BitMine Chairman Tom Lee has said he aims to own five percent of the total Ethereum supply through BitMine. The company has said that they are committed to the provision of financial market service provisions alongside decentralized apps utilizing Ethereum.
The acquisition is done during the fluctuating market. BMNR stock recently finished off 1.5 percent at $59.10, while Ethereum is up by a modest 0.04% within the past 24 hours, before changing hands at $4,331, according to the data provided by CoinMarketCap. Despite these short-term changes, BitMine continues to expand its Ethereum treasury.
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