BitMine Immersion Technologies has acquired more than 566,776 Ether worth over $2.1 billion in just 16 days, becoming the largest corporate holder of Ether reserves.
Purchase of Ethereum for $2.1 Billion
BitMine reported that in the last 16 days, it acquired 566,776 Ether, totaling over $2.1 billion. This purchase allowed BitMine to regain leadership among new Ether treasury companies.
Plans for Reserve Growth
Tom Lee, managing partner at FundStrat and chair of BitMine, stated that the company is aiming to acquire and stake 5% of the overall ETH supply. This currently equates to around 6 million Ether, potentially costing about $22 billion.
Ether Market and Corporate Reserves
Currently, BitMine is the largest firm holding Ether, followed by SharpLink Gaming with approximately 360,800 ETH and the Ethereum Foundation with around 237,500 ETH. According to reports, 2.31 million Ether is held in 61 strategic reserves, representing 1.91% of the total supply.
BitMine's recent actions highlight the active participation of companies in the Ethereum market and their pursuit of significant corporate reserves. Competition among firms for Ether reserves continues to grow.
