Bitmine Expands Ethereum Dominance With $11.8 Billion Holdings

Bitmine Immersion Technologies has rapidly expanded its Ethereum holdings, bringing it closer to controlling 5% of the total ETH supply. The company now holds 4.875 million ETH, equal to 4.04% of total supply, and its total crypto exposure includes $10.7 billion in ETH, valued at approximately $198 BTC holdings, $719 million in cash reserves, and strategic investments.

The firm's aggressive accumulation strategy has been marked by a high pace of acquisitions for four consecutive weeks, with the latest purchase of 71,524 ETH. This move has reinforced its position as the largest Ethereum treasury in the world and the second-largest crypto treasury globally, behind Strategy.