Why BitMine—Sort of Like Strategy for Ether—Is Hot With Investors
Key Takeaways
- BitMine Immersion Technologies has reported ether holdings valued at more than $2.9 billion, making it the largest ether treasury company in the world.
- The company intends to acquire up to 5% of the entire supply of ether.
- Investors in the company include Cathie Wood’s ARK Invest and Peter Thiel’s Founders Fund.
BitMine Immersion Technologies on Monday said it is now the largest publicly traded holder of ether (ETH) in the world.
The Las Vegas-based company reported ETH holdings exceeding 833,000 tokens, valued at over $2.9 billion as of Sunday night. The company began its ether treasury strategy in late June, pivoting away from bitcoin mining, and has now become the largest ether holder among publicly disclosed…
