BitMine Lifts Ethereum Holdings to 3.71% of Supply as BMNR Stock Climbs Over 9%

BitMine Immersion Technologies recently purchased 50,928 ETH for about $103 million, lifting its total Ethereum holdings to 4,473,587 ETH, or roughly 3.71% of circulating supply. Following the disclosure, BMNR shares jumped more than 9% while Ethereum traded around $2,037 after a steep monthly decline. The company is pursuing a target of controlling 5% of ETH supply and has staked over 3 million ETH as part of a strategy to generate substantial validator yield.