BitMine acquires 1.6 billion USD worth of ETH, rising to the top 2 crypto treasury globally

BitMine Immersion Technologies (#Bitmine ) has purchased an additional 373,110 ETH, valued at nearly 1.6 billion USD, raising its total cryptocurrency holdings to 6.61 billion USD. With this figure, BitMine becomes the largest Ethereum (ETH) treasury in the world and the second-largest crypto treasury globally, only behind Strategy.

The strategy of 'Ethereumizing' finance

This record purchase of $ETH by BitMine within a week reinforces the company's confidence in Ethereum's central role in the future of digital finance. BitMine's president, Tom Lee, stated that the combination of Wall Street, AI, and Ethereum blockchain will reshape the entire financial system in the next 10-15 years.

Impact on the market

Competitive positioning: BitMine's top 2 position indicates that the 'crypto treasury' race is becoming fierce, potentially prompting other competitors to increase their ETH purchases, creating upward price momentum.

Ecosystem growth: The strong demand for spot ETH purchases will drive capital flows into other sectors within the Ethereum ecosystem such as Layer-2, staking, RWA, and DeFi.

Reinforcing confidence: This large-scale accumulation strengthens investor confidence, affirming ETH's position as a long-term asset.

In just 5 weeks since launching the strategy, BitMine has quickly risen to the top. Along with other companies like ETHZilla that are also actively accumulating ETH, the total ETH holdings by investment firms currently stand at 17.53 billion USD, indicating a strong ongoing trend of 'Ethereumization'. #anh_ba_cong