BitMine Immersion Technologies announced a significant increase in its Ethereum reserves, reaching $6.6 billion, making it the largest ETH holder in the world.
Volume of Accumulations by BitMine Immersion
According to a press release dated August 18, BitMine Immersion increased its Ethereum holdings by 373,000 ETH, bringing its total to 1.52 million tokens. This statement also highlighted a $1.7 billion increase in the company's valuation in just one week.
5% Ethereum Supply Acquisition Strategy
BitMine aims to control 5% of Ethereum's total supply, which would give the company considerable influence over the network's liquidity. Chairman Tom Lee emphasized that this is part of a broader institutional pivot towards blockchain infrastructure. "We continue to believe that Ethereum is one of the biggest macro trades over the next 10-15 years," Lee noted.
From Mining to Major Player in Ethereum
BitMine's evolution from a mining company to a powerhouse in the Ethereum market reflects the strategic soundness of its decisions. The company has entered the top 10 most liquid U.S. stocks, underscoring the growing investor interest in its assets.
In light of the company's rapid growth and ambitious plans, BitMine Immersion continues to strengthen its position as a key player in the Ethereum market, resolutely moving towards achieving significant influence in the cryptocurrency market.
