BitMine Immersion Technologies Continues Aggressive Accumulation of Ether, Seeks to Control 5% of Total Supply
BitMine Immersion Technologies (BMNR), a company listed on NYSE American, is actively accumulating Ether (ETH) as part of a strategic initiative. According to Arkham, BitMine purchased at least $229.31 million worth of ETH this week alone, including a significant acquisition of 30,075 ETH valued around $88.73 million.
Data shows that two new wallets withdrew this amount of ETH from FalconX, a pattern consistent with the company's recent buying activity, as per Arkham Monitoring.
CoinGecko data reveals the company acquired a total of 407,331 ETH in the past 30 days, representing over 3.2% of the entire ETH supply.
Earlier in the month, BitMine made a notable purchase of nearly $70 million Ethereum over three days, followed by an additional approximately $150 million in ETH purchases through BitGo (18,345 ETH) and Kraken (30,278 ETH), marking some of the largest corporate ETH inflows so far this year.
Management at BitMine has expressed ambitions to control around 5% of all available ETH supply, highlighting the company's aggressive stance in the crypto asset market.
