Bitmine increases its shares offer to USD $ 24,500 million to continue buying more Ethereum

The company seeks to consolidate its position as the largest institutional investor of Eth, opening the possibility of using part of that capital to also acquire some of Bitcoin.

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• Bitmine Immersion Technologies It raises its shares sales at USD $ 24,500 million.
• The company becomes the first to overcome 1 million Eth In your reservations.
• The president of the company, Tom Lee, projects a possible increase in the price of Eth up to USD $ 30,000.

Bitmine Immersion Technologies, a bitcoin mining company that adopted a treasury strategy focused on Ethereum, announced a significant expansion of its shares sales program “At-The-Market” (ATM) with the aim of financing more purchases of Eth.

According to a presentation before the United States Stock Exchange and Securities Commission (SEC) held on Tuesday, The company increased the maximum amount of its USD $ 4.5 billion to USD $ 24,500 million.

The firm had initiated this scheme on July 9 with an agreement next to Cantor Fitzgerald and Thinkechy to sell up to USD $ 2 billion in ordinary shares. On July 24, he raised the figure to USD $ 4.5 billion, and now, with this last modification, he quintuple its issuance capacity. Bitmine He indicated that he could also use part of the funds to acquire Bitcoin and expand its mining and consulting operations in this sector.

The announcement coincides with a rebound in the price of Ethereum, which overcome the USD $ 4,350 again since 2021. This movement follows an accelerated accumulation trend by new Crypto Treasury companies, which replicate Michael Saylor’s strategy with Bitcoin, but applying it a Ethereum, Second cryptocurrency with the greatest market capitalization, based on the participation test mechanism (Proof-of-Stake).

Currently, the price of Eth It is at USD $ 4,405, with an increase of 5.4% in the last 24 hours, according to market data.

Bitmine, The company with more reservations of Ethereum

Bitmine announced on Monday the purchase of 317,000 Eth additional, which raised its total holdings to more than 1.15 million Ethequivalent to USD $ 5,000 million. With this acquisition, became the first company to overcome the milestone of 1 million Eth In reserve.

The president of the company, Tom Lee – who is also co -founder of Fundstrat—, declared in an interview for the chain CNBC that Ethereum could be entering at a time similar to that of Bitcoin In 2017. He mentioned three key factors for this impulse: the regulatory approval for the stablecoins, opening signs by the Sec To transfer financial services to Blockchain, and the participation of large companies such as JPMorgan and Robinhood In the digital currency ecosystem. He even stated that, if these trends are consolidated, an era could be started “Strategy of Ethereum” with a price potential that exceeds USD $ 30,000.

After Bitmine, The main companies with large reservations of Eth include a Sharplink, Directed by Joe Lubin, with 598,800 Eth (USD $ 2.6 billion), and The Ether Machine with 345,400 Eth (USD $ 1.5 billion). Outside the corporate field, the Ethereum Foundation Maintain 232,600 Eth (USD $ 1 billion), while Coinbase It has 136,800 Eth (USD $ 588.8 million), in addition to 11,776 BTC (USD $ 1.4 billion).

A recent report by Geoffrey Kendrick, Global Chief of Digital Assets Research in Standard Charteredsaid that companies with treasury in Ethereum “are just starting” And their holdings could multiply by ten, reaching up to 10% of the total supply of Eth Over time.

This context suggests that the growing institutional adoption of Ethereum could be at an early stage, but with a transformative potential similar to that which Bitcoin lived in previous cycles, which keeps the market and expectant investors.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain.

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