Miner BitMine Increases Its Ethereum Reserves to 1,297,093 ETH
Tom Lee’s BitMine Immersion Technology mining company took advantage of the Ethereum price drop and added 106,485 ETH to its assets. It now has 1,297,093 ETH on its balance sheet, which is currently valued at about $5,68 million.
The company made most of these purchases through large over-the-counter trades, as well as direct transfers from intermediaries such as Galaxy Digital, FalconX and BitGo.
BitMine isn’t the only major organization interested in accumulating the leading altcoin. The second-largest corporate holder of Ethereum today is SharpLink, which holds 728,804 ETH worth roughly $3,3 billion.
However, BitMine has every chance to overtake SharpLink, since Bitcoin- the miner is taking steps to raise funds to buy Ethereum. The company has already filed for a $20 billion share placement, but the final amount was $24,5 billion. In a filing with the U.S. Securities and Exchange Commission (SEC), BitMine said that Cantor Fitzgerald & Co. and ThinkEquity LLC will handle the placement.
The gross revenue commission is up to 3%, and the shares will be sold through various channels, such as directly on the American NYSE stock exchange.
