Bitmine lifts Ether holdings to 5.7M as it joins Russell 1000
Bitmine Immersion Technologies bought more than 27,000 Ether last week, including a $43 million purchase, bringing its holdings to just over 5.7 million ETH. The company says it now controls about 4.7% of Ether’s total supply and is moving toward its 5% target. Its average purchase price is $1,569 per ETH. The purchase reinforced Bitmine’s position as the largest public corporate Ether holder. Bitmine also joined the Russell 1000 index, which should increase demand for its shares because many passive funds and institutions track the index. Chairman Tom Lee said the inclusion could bring hundreds or thousands of new institutional shareholders. Bitmine shares rose 1.7% Monday but remain down 9% over the past week, alongside Ether’s decline below $1,600.
