Bitmine Immersion Technologies has increased its Ethereum reserves to 5,787,414 ETH, now valued at $11.8 billion. The company purchased 9,946 ETH last week at an average price of $1,948 per unit. Of these reserves, 4,917,189 ETH, representing approximately 85% of the total, are staked through the institutional platform MAVAN, generating estimated annual revenue of $254 million. Bitmine chairman Thomas Lee also noted that the ETH/BTC ratio has reached a three-month high of 0.30, which he believes signals bullish momentum for ETH price with next technical resistance levels at $2,000 and $2,500.
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