PANews reported on December 8th that BitMine Immersion Technologies (NYSE: BMNR) announced that as of December 7th, the company held 3,864,951 ETH, of which 138,452 ETH were newly purchased last week, representing a 156% increase in weekly purchases compared to four weeks ago. Based on the disclosed price of $3,139/ETH, this week's purchase amounted to approximately $435 million.

BitMine currently holds approximately 3.2% of the total ETH supply, and the company states its goal is to reach 5%. In addition to ETH, BitMine also holds 193 BTC, $1 billion in cash, and a $36 million stake in "Moonshot," bringing its total assets to $13.2 billion.