Peter Thiel-Backed BitMine Grabs More Ether, Now Holds Over $1 Billion In ETH

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.