Bitmine Adds Ether, Treasury Reaches 5.54 Million ETH

Bitmine Immersion Technologies significantly expanded its Ether holdings, acquiring 126,971 ETH for approximately $207 million in the past week. This substantial purchase brings the company's total treasury to 5,543,872 ETH, representing 4.59% of the total circulating supply. The move occurred despite a broader market downturn that saw Ether prices decline roughly 30% from their April peaks. Bitmine is now nearing its accumulation target of 5% of the circulating supply, with only about 490,000 ETH remaining to reach its goal.