Key Takeaways
- BitMine Immersion increased its Ethereum holdings by 82,353 ETH in a single week.
- This acquisition is part of the company’s strategy to become a top corporate holder of Ethereum.
BitMine Immersion, a publicly traded immersion technologies firm chaired by Tom Lee, increased its Ethereum holdings by 82,353 ETH over the past week. The company has been building a massive Ethereum treasury to capture a large share of the cryptocurrency’s supply.
The acquisition reflects BitMine Immersion’s strategy to position itself as a leading corporate holder of Ethereum. The firm has been consistently expanding its holdings through regular acquisitions, reflecting heightened institutional interest in ETH as a long-term store of value.
BitMine Immersion aims to grow its Ethereum reserves toward its publicly stated long-term goal of acquiring 5% of the total circulating supply of Ethereum. The company’s accumulation strategy widens its advantage over competitors in crypto treasury management as corporations increasingly adopt Ethereum as a core treasury reserve asset.
Source: https://cryptobriefing.com/bitmine-immersion-boosts-ether-holdings-by-82300-eth-in-a-week/