Bitmine Acquires $43 Million Of Ethereum As Price Slides

Bitmine Immersion Technologies (NYSE: $BMNR) bought another 27,084 of Ethereum (CRYPTO: $ETH) over the past week as its price neared a low for the year.

In all, Bitmine spent $43 million U.S. buying Ethereum in recent days as the price steadily fell. ETH hit a low for the year of $1,564.86 U.S. on June 26.

The latest purchases have brought Bitmine's holdings to 5.7 million Ethereum worth $8.9 billion U.S., according to the company.

Ripple, The Company Behind XRP, Is Valued At $50 Billion

Eightco Secures $125 Million Investment From Bitmine And ARK Invest, Shares Surge

Blockchain Projects Decline 75% As Developers Shift To A.I.

Stanley Druckenmiller Says Stablecoins Could Reshape Global Finance

New York Stock Exchange Invests $600 Million In Polymarket

Bitmine now owns 4.7% of Ethereum's circulating supply, nearing the company's 5% goal.

However, the purchases over the last week were Bitmine's smallest since early May of this year and down from 52,203 Ethereum bought the previous week.

Bitmine remains one of the few crypto treasury firms that's still adding to its holdings amid a relentless selloff in digital assets.

Bitmine Chairman Tom Lee has blamed quarter-end rebalan

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/crypto/articles/bitmine-acquires-43-million-ethereum-134200182.html)