Bitmine added 7,391 ether over the past week, bringing its reported Ethereum treasury to 5.81 million ETH, according to The Block. The holdings were valued at roughly $11 billion based on the report’s estimate.
The latest purchase expands Bitmine’s already substantial exposure to Ethereum, the blockchain network whose native asset is ether. Corporate or treasury-held crypto reserves can make a company’s balance-sheet value more sensitive to movements in the price of the underlying digital asset.
Ethereum is widely used for smart contracts and decentralized applications, with ETH used to pay transaction fees and support network operations. Large treasury positions can draw attention because they concentrate significant amounts of an asset under a single holder’s control.
The report did not provide further details on the timing, venue, or financing of the ether purchase beyond the 7,391 ETH acquired during the week. Bitmine’s total of 5.81 million ETH is the figure cited for its Ethereum treasury after the addition.
