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BitMine Now Owns 2.8% of All Ethereum. Buy Now or Too Risky?

alfernec / Shutterstock.com BitMine Immersion Technologies (NYSEAMEX:BMNR) surprised the market on Monday by declaring it had purchased another 77,055 tokens of Ethereum (CRYPTO:ETH), giving it a total of  3,313,069. This represents 2.8% of the total ETH circulating supply of approximately 120.7 million tokens. At a price of 4,164perETH,thestakeisvaluedat4,164 per ETH, the stake is valued at 14.2 billion, forming the core of BitMine’s $14.2 billion in combined crypto, cash, and other holdings. Chairman Thomas Lee, co-founder of Fund ...