BitMine, led by Tom Lee, surpasses 1.15 million Ether holdings, valued at approximately $4.96 billion.

BitMine Immersion Technologies Announces Holding of 1,150,263 ETH Worth $4.96 Billion

Led by renowned analyst and co-founder of investment research firm Fundstrat, Thomas “Tom” Lee, Ethereum financial company BitMine Immersion Technologies announced on Monday that its total holding of Ethereum (ETH) has reached 1,150,263 coins, valued at approximately $4.96 billion.

BitMine stated that it is currently the world’s largest Ethereum financial strategy company and the third-largest publicly listed cryptocurrency financial company globally, following Bitcoin financial company Strategy and Bitcoin mining company MARA.

Tom Lee, Chairman of BitMine, stated in the press release:

Originally focused on Bitcoin (BTC) mining, BitMine announced in June this year its plans to initiate a private placement to launch its Ethereum financial strategy, with Tom Lee serving as Chairman. The performance evaluation goal is to increase the per-share Ethereum holding, achieved through methods including reinvestment of company cash flow, capital market operations (including leveraging market fluctuations to lower capital costs), generating income through staking, and fluctuations in ETH value.

The company has garnered support from several institutional investors, including legendary investor and senior advisor at Miller Value Partners, Bill Miller III, Ark Invest founder Cathie Wood, MOZAYYX, Silicon Valley mogul Peter Thiel’s Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital.

According to data from strategicethreserve.xyz, BitMine currently holds the most Ethereum of any publicly listed company, with SharpLink Gaming, led by Ethereum co-founder Joe Lubin, ranked second. The latter announced today that its holdings have reached 598,800 coins, valued at approximately $2.57 billion.