BitMine Immersion Technologies bought 24,266 ether (ETH) last week, raising its holdings to 4,167,768 tokens. Chairman Thomas Lee stated that their ability to continue accumulating ETH depends on shareholder approval for new equity issuance, with a shareholder vote scheduled for Thursday.

BitMine’s goal is to ultimately own 5% of all ether tokens. The firm has increased its total assets to $14 billion, including crypto, cash, and strategic investments. They also staked over 1.2 million of their ETH to earn revenue on their holdings.

Despite volatile prices, BitMine has continued to accumulate ETH while other digital asset treasuries have slowed down. The company has been funding their purchases by selling shares and increasing their cash reserves by $73 million to $988 million. They also hold 193 bitcoin and a $23 million stake in Eightco Holdings.

Read more at Yahoo Finance: BitMine adds 24,000 ether, but warns accumulation may slow without shareholder approval