BitMine announces holding 163,000 ETH, worth over $500 million

BlockBeats News, July 14th, BitMine announced today that its Ethereum (ETH) holdings have surpassed $500 million. The company completed a $250 million first-round private placement on July 9th, continuing to advance its light-asset treasury strategy. As of 7:45 AM Eastern Time on July 14th, the company holds a total of 163,142 ETH.

Thomas Lee, the newly appointed Chairman of the BitMine Board and an analyst at Fundstrat, stated: "Following the completion of the $250 million private placement, our Ethereum holdings have now exceeded $500 million, confirming our strategic goal of increasing our Ethereum network assets."