BitMine Immersion Buys $2B in Ether, Aiming for 5% Supply Control

Bitcoin mining firm BitMine Immersion Technologies has made waves in the crypto markets, purchasing over $2 billion worth of Ether within just 16 days, making it the largest corporate holder of ETH among newly formed Ether treasury companies. In a statement on Thursday, BitMine revealed it had acquired 566,776 Ether, valued at over $2.03 billion, as part of its aggressive treasury strategy. Tom Lee, managing partner at FundStrat and chairman of the company, confirmed that the firm is “well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply.” With Ether’s current circulating supply, this target equates to around 6 million ETH, valued at roughly $22 billion at current market prices. BitMine’s bold move signals a growing institutional appetite for Ethereum , mirroring Michael Saylor’s Bitcoin accumulation strategy but on a larger scale if the company’s ambitions are fulfilled. BitMine Surpasses SharpLink as Largest Ether Holder BitMine’s buying spree has pushed it ahead of SharpLink Gaming, which recently reported a purchase of 79,949 ETH , bringing its holdings to 360,807 ETH worth approximately $1.3 billion. Meanwhile, the Ethereum Foundation holds around 237,500 ETH, placing it behind both BitMine and SharpLink in corporate Ether holdings. Strategic Ether Reserves data shows that 61 strategic entities currently hold 2.31 million ETH, representing 1.91% of the total supply and valued at around $8.46 billion. BitMine’s goal of holding 5% would significantly expand corporate Ether holdings within these reserves, establishing the firm as a major player in Ethereum’s ecosystem. The comparison with Bitcoin treasury strategies is notable, with Bitbo data showing that 206 firms collectively hold over 3.4 million Bitcoin, worth more than $408 billion and accounting for 16.5% of Bitcoin’s capped supply. Unlike Bitcoin, Ether does not have a fixed maximum supply, making BitMine’s strategy dependent on Ethereum’s burn mechanics and issuance over time. Stock Prices Soar Amid Ether Treasury Moves The Ether accumulation strategy has also delivered significant gains for BitMine’s share price. Following its Ether treasury announcement, the stock (BMNR) surged over 3,000%, reaching an all-time high of $135 on July 3. Similarly, SharpLink Gaming’s (SBET) share price spiked 171% to $79.21 after announcing its Ether pivot on May 27. The latest institutional moves signal a shift focus from Bitcoin-heavy reserves to Ethereum as a long-term treasury and staking asset, while reinforcing confidence in Ether’s evolving role within corporate balance sheets and staking ecosystems. The post BitMine Immersion Buys $2B in Ether, Aiming for 5% Supply Control appeared first on TheCoinrise.com .

Source: The Coin Rise