BitMine Immersion Technologies Nears 5% Stake in Total Ethereum Supply

BitMine Immersion Technologies, led by Tom Lee, has increased its holdings to 5,929,198 ETH, representing 4.9% of the 122 million ETH in circulation. The firm, which added 28,086 ETH in the past week, is approximately 171,000 ETH away from its 5% target. Currently, 85% of its holdings, or 5,067,309 ETH, are staked, generating an annual yield of nearly 132,000 ETH. The company's total assets, including crypto, cash, and securities, are valued at $15.7 billion.