Bitmine Immersion Technologies (BMNR) acquired 27,180 ETH for approximately $68 million, at roughly $2,500 per token. This purchase brings its total holdings to nearly 5.96 million ether, representing approximately 4.9% of Ethereum’s circulating supply, making it the largest publicly disclosed corporate holder of Ethereum among listed companies. The company still needs to acquire approximately 144,000 more ETH to reach its 5% target of circulating supply. Chairman Tom Lee highlighted several upside catalysts, including the rising ETH/BTC ratio, real-world asset tokenization, and the growth of agentic AI on blockchain infrastructure, as well as the proposed Clarity Act legislation. The firm has staked over 5 million tokens, generating estimated annualized revenue of approximately $330 million.
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