Bitmine Acquires 65,341 Ether, Hits 4.66M Holdings

Bitmine Immersion Technologies, a publicly traded cryptocurrency treasury firm, announced on Monday that it acquired 65,341 ether last week, raising its total holdings to 4,660,903 tokens as of March 22. The purchase, valued at approximately $138 million based on current ether prices around $2,100, represents the company's third consecutive week of accelerated buying amid a prolonged market downturn. This move positions Bitmine as the largest holder of ether among public firms, controlling about 3.86 percent of the cryptocurrency's circulating supply of roughly 120.7 million tokens.

The acquisition boosted Bitmine's ether balance while its overall treasury value dipped to $11 billion from $11.5 billion a week earlier, reflecting a roughly 5 percent decline in ether's price to about $2,072. In addition to ether, the firm holds 196 bitcoin worth $13.9 million, a $200 million stake in Beast Industries, a $95 million investment in Eightco Holdings, and $1.1 billion in cash. Company officials attributed the slight discrepancy in some prior figures, such as Eightco's stake previously listed at $83 million and cash at $1.2 billion, to updated valuations in recent disclosures.