BitMine overtakes Ethereum Foundation with $1 billion ETH stockpile
2025-07-17 16:49:02
Main Idea
BitMine has become the largest corporate holder of Ethereum with a $1 billion ETH stockpile, surpassing the Ethereum Foundation's holdings, and plans to stake 5% of ETH's circulating supply, backed by institutional investment.
Key Points
1. BitMine holds 300,657 ETH valued at over $1 billion, surpassing the Ethereum Foundation's $665 million ETH balance.
2. Peter Thiel's Founders Fund acquired a 9.1% stake in BitMine, leading to a 34% surge in BitMine's shares.
3. BitMine plans to stake 5% of Ethereum's circulating supply, positioning itself as a major player in Ethereum's validator ecosystem and governance.
4. Ethereum's price rose 4.92% to $3,406.23 amid the news of BitMine's accumulation and institutional backing.
5. SharpLink Gaming previously held 280,706 ETH ($960 million), but BitMine has now taken the lead in corporate ETH holdings.
Description
BitMine Immersion’s latest move has tilted the Ethereum power map, as the Nevada-based firm disclosed a staggering 300,657 ETH in its treasury—valued at over $1 billion. This surpasses the Ethereum Foundation’s publicly known holdings of $665 million and makes BitMine the largest corporate holder of Ethereum to date. The milestone comes just days after BitMine
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