BitMine holds over 2% of ETH supply, announces $365M offering

Top ETH treasury BitMine Immersion Technologies announced $365 million in new funding and revealed it now holds 2.416 million ETH — over 2% of the total supply.

BitMine Immersion Technologies, a crypto treasury company focused on Bitcoin and Ether, says it controls more than 2% of Ether’s total supply after amassing 2.4 million ETH.

The company disclosed Monday that its Ether (ETH) holdings are valued at about $10.1 billion, making it the largest corporate ETH treasury worldwide. It also announced a new fundraising initiative aimed at pushing its reserves even higher.

BitMine reported that it acquired ETH at an average price of nearly $4,500, about 7.25% above the current market price of $4,200.

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