Bitmine Immersion Technologies has made a substantial investment in ethereum, with its holdings now reaching approximately 4.66 million tokens. This represents roughly 3.86% of the total ethereum supply and places Bitmine among the largest holders globally.
The company's combined crypto, cash, and investments have reached $11 billion, driven largely by its growing ethereum treasury. Bitmine's chairman, Tom Lee, has noted that ethereum has outperformed traditional assets during recent geopolitical tensions, with an 18% increase compared to declines in gold prices.