BitMine Immersion Technologies (BMNR), the largest Ethereum treasury company, purchased 45,759 ether last week, extending its buying spree despite the sharp pullback in crypto prices.
The haul was the largest weekly purchase this year in token terms, bringing the firm’s total ETH holdings to 4,371,497 tokens, the company said in a Monday update. That’s equivalent to $8.7 billion at current prices, while the company is estimated to be sitting on almost $8 billion in paper losses.
The firm also raised its cash pile to $670 million, alongside its small bitcoin stash and equity stakes, including a $200 million position in Beast Industries. Total assets stand at $9.6 billion, while BitMine’s share of ETH’s total…
