BitMine Surpasses 1 Million ETH Holdings, Expands to $24.5 Billion in Equity Issuance

On December 12, Ethereum treasury company BitMine Immersion Technologies announced an expansion of its equity issuance limit to $24.5 billion to fund additional ETH purchases. This marks a significant increase, quintupling from the previous $4.5 billion set on July 9. The company had just expanded to $4.5 billion on July 24, making this increase to $24.5 billion an extraordinary scale. The raised funds are intended not only for purchasing Ethereum but also for acquiring Bitcoin and expanding mining operations. On December 11, BitMine disclosed the purchase of an additional 317,000 ETH from the previous week, bringing its total holdings to 1.2 million ETH.