Bitmine Immersion Technologies (NYSE: $BMNR) bought more Ethereum (CRYPTO: $ETH) over the past week and continued to increase the amount of ETH it has staked.
The serial cryptocurrency acquirer led by Chairman Tom Lee purchased 7,391 Ethereum over the past week.
The company now owns 4.8% of Ethereum's circulating supply and is 96% of the way towards reaching its goal of holding 5% of the available ETH supply.
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In a news release, Bitmine said that it has also increased the amount of ETH it has staked.
The company said that 87% of its Ethereum holdings are now staked, representing 5,067,309 ETH worth $9.8 billion U.S. at current prices.
Staking is the process of locking up a cryptocurrency on a blockchain network to help secure it and verify transactions. Analysts liken it to earning interest on bank deposits.
