Tom Lee's BitMine Now Largest Corporate Ethereum Treasury With $2.1 Billion in ETH
Main Idea
BitMine Immersion Technologies' Ethereum token holdings have reached $2.1 billion, making it the largest Ethereum treasury holder, with plans to acquire and stake 5% of the overall ETH supply.
Key Points
1. BitMine Immersion Technologies holds 566,776 ETH, purchased at an average price of $3,643.752 per ETH.
2. The company's shares rose 9.3% to $43.20 following the announcement.
3. BitMine closed a $250 million private placement on July 8 to further expand its Ethereum holdings.
4. ETH's price surged 31% over two weeks, trading at $3,733, still below its all-time high of $4,891.
5. Other companies like BitDigital, The Ether Machine, and GameSquare are also increasing their Ethereum holdings.
Description
The NYSE-traded firm said that it now held 566,776 ETH.
$ETH
$3719.70
+1.70%
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