Bitmine Immersion Technologies Acquires 45,000 ETH in Two Days
- Tom Lee-led Bitmine Immersion Technologies purchased 45,000 ETH, valued at nearly $89 million, in two days.
- The acquisition includes 10,000 ETH worth approximately $19.5 million and 35,000 ETH for over $69 million.
- Bitmine aims to hold 5% of the total Ethereum supply; it currently holds about 4.4 million ETH or roughly 3.6% of the total supply.
- More than 3 million ETH held by Bitmine is staked, with its MAVAN staking solution expected to launch this quarter.
- Bitmine ranks first among Ethereum treasury companies, surpassing SharpLink, The Ether Machine, Bit Digital, and Coinbase.
Bitmine Immersion Technologies’ recent acquisition of 45,000 ETH highlights its strategic shift towards an Ethereum-focused treasury model. The firm now holds approximately 3.6% of the total Ethereum supply as it aims for a larger market share.
Source (3.2)https://cryptobriefing.com/ethereum-acquisition-bitmine/?rand=59535
