With 14 rounds completed, the FCC’s 24 GHz auction has racked up nearly $700 million in bids as of Wednesday.

In total the auction has grossed about $698.61 million in proceeds so far, with action focused on top markets including New York, Los Angeles, Chicago, and San Francisco.

The high-band 5G spectrum auction began March 14 and is currently in the clock phase, during which Partial Economic Area (PEA) blocks are up for bid. Following that, the assignment phase will begin, where winners can bid on specific frequency licenses.

Overall, there are 2,909 licenses up for grabs in Auction 102, with 38 qualified bidders participating in the clock phase. Participants include Verizon, AT&T, Sprint, T-Mobile, and Dish, among others.

The latest spectrum sale follows the FCC’s 28 GHz auction, which concluded in late January raising $702.52 million. Identities of winning bidders for those 5G spectrum licenses will be publicly disclosed once the 24 GHz auction closes.