365Crypto
BitMine Immersion Technologies is on an ETH shopping spree.
In just 16 days, they grabbed 566,776 ETH, worth over $2.03 billion.
Tom Lee, chairman of BitMine and FundStrat’s managing partner, says the goal is bold:
Buy and stake 5% of all Ether—that’s more than 6 million ETH.
BitMine Leads the ETH Treasury Race
According to Strategic Ether Reserves, BitMine now holds the largest Ether stash.
They’ve leapfrogged SharpLink Gaming, which has around 360,800 ETH,
and even the Ethereum Foundation, holding just 237,500 ETH.
Bigger Ambitions Than Saylor?
To reach 5%, BitMine would need around $22B worth of ETH at today’s price.
That’s a bigger slice than Michael Saylor’s Strategy firm,
which owns 607,770 BTC—only 2.9% of the total Bitcoin supply.
📝 Ethereum doesn’t have a fixed supply like Bitcoin. ETH supply goes up or down depending on how much gets burned versus issued.
Stocks Skyrocket After Ether Moves
Since announcing its Ether strategy, BitMine’s stock (BMNR) exploded 3,000%.
On July 3, it hit a high of $135.
SharpLink’s shares (SBET) jumped too, rising 171% after its Ether pivot in May.
Ether Reserves Are Heating Up
There are now 2.31 million ETH in strategic reserves across 61 companies.
That’s 1.91% of the total ETH supply—worth over $8.4B.
Bitcoin still leads: 206 companies hold 3.4M BTC, worth $408B—about 16.5% of BTC supply.
