BitMine Immersion has reported a significant increase in its Ethereum holdings, making it the largest corporate holder of this cryptocurrency globally.
Rapid Accumulation of Ethereum
According to a press release dated August 4, BitMine Immersion has amassed 833,137 ETH, surpassing all holdings of other publicly traded companies. The accumulation strategy began in late June, achieving nearly 24,000 ETH per day over 35 days.
Accumulation Strategy and Investor Support
Chairman of the Board Thomas Lee commented on this success, emphasizing that the company aims for 5% of the total Ethereum supply, planning to focus on returns from staking. The company's holdings have drawn the attention of major investors such as Cathie Wood and Peter Thiel.
Competition with Other Corporate Holders
While BitMine leads in Ethereum accumulation, its closest competitor SharpLink holds 480,031 ETH worth $1.65 billion. This underscores the growing competition in the corporate cryptocurrency holding space.
BitMine Immersion is taking the lead as the largest corporate holder of Ethereum, and the active accumulation along with investor support underscores confidence in their strategy.
