The race to buy Ether among businesses is accelerating as the two largest holders of Ether in the world raise funds to purchase more of the world’s second-largest cryptocurrency, which is approaching its historical peak.
The Bitcoin mining company (BTC) publicly listed BitMine Immersion Technology is seeking to raise $24.5 billion through a new stock issuance in the form of “at-the-market” (ATM) to purchase additional Ether tokens (ETH) at a price of $4,425, according to a filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday.
This move coincided with SharpLink, a company managing enterprise cryptocurrency assets, completing a fundraising of $389 million through the sale of common stock to several institutional investors. “We intend to use almost all of the funds raised to buy Ether,” the SEC filing stated.
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