After seven rounds, the FCC‘s latest 5G wireless spectrum auction (auction 102) has drawn bids totaling $429,753,635. After day one of the auction March 14, the total was $304,359,080, so that translates to $125 million more bid in less than two additional days of bidding.
New York continued to draw the highest bid–$7,391,000–with the round-eight bid starting at $8,131,000.
Auction 102 is a two-phased auction, beginning with a so-called clock auction, in which the FCC ticks up the price after each round until there are no more bids. Bidding is on generic blocks, with a follow-on auction to determine the specific frequencies, as there was with the FCC broadcast incentive auction.