#Bitmine dominates the world of Treasuries of #Ethereum with 833,000 ETH valued at $2.9 Billion, aiming for 5% of the Supply
BitMine Immersion Technologies (BMNR), backed by Tom Lee, announced that its holdings of #ETH have reached 833,000 tokens, valued at over $3 billion, establishing itself as the largest public holder of Ethereum worldwide.
This update, revealed on Monday, comes less than two weeks after reporting 625,000 ETH and launching a $1 billion share buyback program, marking explosive growth since its treasury strategy began in June with a $250 million PIPE, which now exceeds $3 billion in ETH in just 35 days.
Surpassing SharpLink Gaming (480,000 ETH) and The Ether Machine (345,000 ETH), BitMine leads the corporate treasury niche, with ambitious plans to reach 5% of the Ethereum supply under the concept of "the 5% alchemy," while exploring staking to generate returns and value for shareholders.
This advancement could redefine institutional adoption of ETH.
