BitMine purchased 98,852 Ethereum for $300 million.

BitMine Raises Ethereum Stock to 4 Million Tokens

BitMine Immersion Technologies (BMNR) purchased 98,852 Ethereum last week, bringing its total assets to 4 million tokens. This significant purchase occurred during a period when cryptocurrencies have been losing value.

The company's cash reserves remained at 1 billion dollars following the purchase. However, with this acquisition, BitMine has incurred unrealized losses exceeding 3 billion dollars in its Ethereum investments.