BitMine has reached nearly 70% of its ETH reserve target after purchasing an additional 40,302 $ETH
BitMine Immersion is a crypto company building an Ethereum fund that has increased its total ETH holdings to 4,243,338, equivalent to nearly $12.3 billion at current prices.
Bitmine currently does not disclose the average purchase price, but according to current market prices, the recently purchased ETH alone is valued at approximately $117.1 million.
As of January 25, in addition to ETH, BitMine also holds 193 BTC and a $19 million investment in the WLD Eightco reserve fund, $682 million in cash, along with $200 million in shares of MrBeast's Beast Industries, the world's number 1 YouTuber.
Among them, the amount of ETH that has been staked reached 2,009,267 ETH, an increase of 171,264 ETH in just one week, accounting for nearly half of the total holdings. Chairman Tom Lee stated that BitMine is currently the largest ETH staking entity in the world. He estimates that when all ETH is staked through MAVAN and partners, staking fees could bring in about $374 million each year, equivalent to more than $1 million per day.
BitMine is currently the largest Ethereum reserve fund holder in the market, surpassing SharpLink and The Ether Machine. On an industry-wide scale, BitMine ranks second among public crypto reserve fund companies, just behind Michael Saylor's Strategy.
Regarding stock performance, BMNR increased slightly by 0.1% last week but dropped by 2% in the pre-market session at the beginning of the week.
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