Reported 2 days ago
BitMine Immersion has acquired $1.1 billion in Ethereum, increasing its holdings to 2.42 million ETH, which constitutes over 2% of the total supply, marking it as the largest Ethereum treasury of any public firm. Despite this major purchase, BitMine's stock dropped nearly 10% following the announcement and a share sale deal worth $365.2 million. The company's total balance sheet now stands at $11.4 billion, highlighting its pivot from Bitcoin mining to Ethereum acquisition. BitMine's Chairman, Tom Lee, remains optimistic about Ethereum's future as a key investment over the next 10-15 years.
Source: YAHOO