BitMine Increases ETH Holdings by 317,000 Coins in One Week, Total Holdings Surpass $4.96 Billion, Making It the World's Third-Largest HODLer

On August 11th, as per prnewswire, the US stock Ethereum strategy firm BitMine Immersion Technologies (stock code: BMNR) announced today that its holdings of Ethereum (ETH) have exceeded $4.96 billion. As of 10:59 PM EST on August 10th, the company holds 1,150,263 ETH (with a price of $4,311 per unit, data sourced from Bloomberg), thus becoming the world's largest entity in terms of ETH reserves. The company stated that since commencing the ETH reserve strategy on June 30th (with the delivery completed on July 8th), BitMine has achieved several significant breakthroughs within five weeks: not only establishing the world's largest ETH reserve but also rising to become the world's third-largest crypto asset holder with a total encrypted asset size of over $49.8 billion, second only to MicroStrategy and Mara Blockchain. Thomas "Tom" Lee, the chairman of the BitMine Board of Directors and a Fundstrat analyst, known as the "Ethereum Bull Leader" of this bull market, stated: "The company increased its ETH holdings from 833,000 to 1.15 million coins within a week (with the value surging from $2.9 billion to $4.96 billion), rapidly advancing its Ethereum strategy. We are leading the industry in terms of both per-share growth in crypto asset net worth and stock liquidity."