Peter Thiel-Backed BitMine Grabs More Ether, Now Holds Over $1 Billion In ETH
2025-07-19 06:02:03
Main Idea
BitMine Immersion Technologies, backed by Peter Thiel, has acquired over $1 billion worth of Ethereum (ETH), becoming the largest publicly traded corporate holder of ETH, with plans to amass 5% of the total ETH supply.
Key Points
1. BitMine Immersion Technologies now holds 300,657 ETH, valued at over $1 billion, making it the largest publicly traded corporate holder of Ethereum.
2. The company shifted from Bitcoin mining to focus on building an ETH treasury, acquiring $500 million worth of ETH just three days prior to the announcement.
3. BitMine aims to accumulate 5% of the total ETH supply, which would be worth over $20 billion at current market value.
4. Other companies, like SharpLink Gaming, have also been building ETH-focused treasuries, with SharpLink previously holding 280,706 ETH before being surpassed by BitMine.
5. Ethereum's price was around $3,555 at the time of the article, reflecting a 43% growth over the past month.
Description
BitMine Immersion Technologies has amassed over $1 billion worth of ETH after buying another $500 million this week in ETH.
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