Led by renowned analyst and co-founder of investment research firm Fundstrat, Thomas 'Tom' Lee, BitMine Immersion Technologies announced on Monday that the total amount of Ethereum (ETH) held by the company has reached 1,150,263 coins, valued at approximately $4.96 billion.
BitMine claims to be the world's largest Ethereum financial strategy company and the third-largest publicly traded cryptocurrency financial company, only behind Bitcoin financial company Strategy and Bitcoin mining company MARA.
BitMine Chairman Tom Lee stated in a press release:
"In just one week, BitMine's Ethereum holdings have increased by $2 billion, reaching a total value of $4.96 billion (from 833,137 coins to 1.15 million coins), demonstrating the company's rapid progress towards the goal of 'acquiring 5% ETH magic.' We are leading our peers in cryptocurrency financial strategy, not only excelling in the speed of increasing net asset value (NAV) per share of crypto assets but also maintaining a lead in the high trading liquidity of the company's stock."
According to data from strategicethreserve.xyz, BitMine is currently the publicly traded company with the most Ethereum holdings, followed by SharpLink Gaming led by Ethereum co-founder Joe Lubin, which announced today that its holdings have reached 598,800 coins, valued at approximately $2.57 billion.
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