BitMine surpasses $3 billion in Ether with a 6% rise in ETH

The value of BitMine Immersion Technologies' holdings, led by Tom Lee, has exceeded $3 billion in Ether (ETH), after adding 208,137 ETH to its treasury over the past week, coinciding with a 6% rise in the price of Ether on Monday.

This recent purchase has raised BitMine's total holdings to 833,137 ETH, enhancing its dominance over the second-largest Ether treasury, SharpLink Gaming.

According to CoinGecko data, the price of Ether rose by 5.8% from its lowest to highest point within 24 hours, reaching $3,730, before retreating to $3,654.

With the price of Ether surpassing $3,700, BitMine has become the fourth largest cryptocurrency treasury globally, following Strategy, MARA Holdings, and Twenty One Capital.

This comes just 35 days after the company announced its Ethereum treasury strategy. The company is led by Chief Investment Officer at Fundstrat, Tom Lee, and has attracted investments from billionaires Bill Miller III, Stanley Druckenmiller, and ARK Invest CEO Cathie Wood.