BitMine Immersion Adds 153,075 Ethereum to Reserve

BitMine Immersion has recently purchased 153,075 Ethereum (ETH), worth approximately $668 ￰0￱ bold move has pushed the company ahead of popular crypto miner MARA in crypto ￰1￱ Immersion Becomes Largest ETH Corporate Holder According to Lookonchain data, this purchase brings BitMine’s total Ethereum holdings to 1,866,974 ETH, valued at nearly $8.15 billion. Notably, this move solidifies BitMine’s status as the largest corporate holder of ETH ￰2￱ also reflects how quickly the company is scaling up its ￰3￱ that BitMine launched its ETH treasury on June 30, ￰4￱ company also revealed plans to buy back up to $1 billion of its outstanding common ￰5￱ it announced its Ethereum strategy, BitMine Immersion has recorded many key ￰6￱ is building its Ethereum holdings because it believes in Ethereum as an asset for decentralized finance (DeFi), Web3 tools, and running smart ￰7￱ companies increase their ETH holdings, Ethereum is becoming more accepted in traditional finance and business ￰8￱ change could also affect how regulators view cryptocurrency and encourage more companies in different industries to adopt ￰9￱ Immersion Bets Big on Ethereum Intriguingly, BitMine Immersion has been getting attention in the financial and cryptocurrency industry after growing its Ethereum holdings to over $6.6 billion.

A week ago, BitMine purchased $21 million worth of ￰10￱ sharp rise shows that the company is not treating crypto as a side bet; it is making Ethereum the core of its long-term ￰11￱ a recent statement, BitMine’s chairman, Tom Lee, described Ethereum as one of the greatest trades of the ￰12￱ says several factors are making Ethereum more ￰13￱ include more interest from big investors and financial institutions moving toward blockchain technology. Meanwhile, its fast growth has already attracted investors like Ark Invest , Founders Fund, Pantera Capital, and Kraken. Notably, Tom Lee’s view matches analysts at Bernstein, who see Ethereum as a leading symbol of blockchain innovation .

Interestingly, BitMine aims to own 5% of all Ethereum in the ￰14￱ Join BitMine in Adopting Ethereum Although BitMine has positioned itself as an Ethereum-dominated treasury, more public firms have added ETH to their balance sheets. Specifically, SharpLink has updated its Ethereum treasury with 39,008 ETH worth about $176.7 million at an average price of $4,531. This purchase brings SharpLink’s total holdings to 837,230 ￰15￱ company also reported earning 2,318 ETH from staking ￰16￱ shows its ongoing support for Ethereum’s proof-of-stake network and commitment to the long-term benefits of staking ￰17￱ a similar move, The Ether Machine acquired 15,000 ETH for $56.9 ￰18￱ firm bought the coins at an average price of $3,809 per ETH, pushing its total holdings to 334,757 ETH.

Meanwhile, Ethereum co-founder Vitalik Buterin has voiced support for the Ethereum treasury companies.