BitMine Immersion Technologies has significantly increased its Ethereum acquisition, adding 138,452 ETH, bringing their total holdings to 3.86 million ETH, representing over 3.2% of the total Ethereum supply.
BitMine’s aggressive acquisition strategy aims to solidify its position in the Ethereum market, potentially influencing ETH’s price dynamics and market liquidity.
BitMine Immersion Technologies has expanded its Ethereum holdings significantly, acquiring 138,452 ETH in a week. This move is part of their “Alchemy of 5%” strategy, aiming to control 5% of total ETH supply.
BitMine’s acquisition boosts its Ethereum holdings to over 3.86 million ETH, accounting for more than 3.2% of the total supply. This accumulation phase is expected to impact Ethereum’s liquidity and market price.
BitMine Acquires 138,452 ETH in Single Week
Key players include Tom Lee, Chairman of BitMine Immersion, who emphasizes the company’s focus on expanding its crypto treasury. Institutional backers such as ARK’s Cathie Wood and Pantera also support this strategy.
BitMine’s Holdings Now Exceed 3.2% of ETH Supply
The move reflects confidence in Ethereum’s market potential, aligning with BitMine’s strategic goals of leveraging regulatory developments like the GENIUS Act. Historical trends suggest ETH’s price may strengthen due to increased demand and reduced exchange supply.
Expert Views on BitMine’s Treasury Strategy
Similar to Strategy Inc.’s Bitcoin accumulation, BitMine aims to position itself as the top Ethereum-focused treasury. This approach mirrors historical patterns of crypto treasury models affecting market liquidity.
Experts highlight that BitMine’s aggressive accumulation could result in a substantial liquidity draw, potentially supporting Ethereum’s price. The planned rollout of the MAVAN staking network further increases ETH’s utility and supply reduction.
Tom Lee, Chairman, BitMine Immersion Technologies, “The best years are ahead for crypto given the substantial upside to current adoption rates for crypto and given the coming transformation as Wall Street tokenizes everything onto the blockchain.” BitMine ETH Holdings Announcement
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