Bitmine Adds $68 Million in Ethereum to Holdings, Nears 6 Million ETH

Bitmine Immersion Technologies acquired 27,180 Ethereum tokens last week, bringing its holdings to nearly 6 million ETH. The company's total holdings are valued at $15.8 billion, including $14.89 billion worth of Ethereum. Approximately 85% of its Ethereum is staked, generating projected annualized revenue of $334 million. Bitmine Chairman Tom Lee noted that Ethereum has outperformed the S&P 500 by 5,866 basis points this quarter, setting the stage for institutions to add to their crypto holdings.