BitMine Immersion Boosts ETH Treasury to 2.66M Tokens, Securing Over 2% of Total Supply

BitMine Immersion Technologies (BMNR) has significantly increased its Ethereum (ETH) holdings to 2.66 million tokens, according to a recent press release. This strategic accumulation represents more than 2% of the entire ETH supply. Combined with 192 BTC, $157 million in "moonshot" equities, and $436 million in unencumbered cash, the company's total holdings now stand at approximately $11.6 billion. The latest figures indicate a substantial increase of around 200,000 ETH (worth roughly $820 million) compared to previous treasury reports. BitMine's ambitious target is to control 5% of all ETH, aiming to capitalize on Ethereum's long-term network effects. Tom Lee, Fundstrat's Head of Research and BitMine's Chairman, emphasized crypto and AI as the decade's key "supercycle" investment themes, noting ETH's current price discounts future potential. BitMine leads as the top ETH treasury firm, with SharpLink Gaming holding 838,730 ETH. Collectively, such firms hold 5.26 million ETH, about 4.34% of the supply. BMNR shares rose 3% in premarket trading, mirroring ETH's weekend price surge to $4,110.