Following a $250 million PIPE fundraising, Bitmine's ETH holdings reach 300,657, surpassing competitors and signaling a strategic shift from Bitcoin to Ethereum.
Bitmine Immersion Technologies announced it holds 300,657 ETH, valued at over $1 billion, making it the largest Ethereum holder among public companies. This increase follows a $250 million PIPE fundraising and investment from Peter Thiel's Founders Fund, boosting Bitmine's stock by 30%. The company aims to stake 5% of all ETH in circulation, which may influence Ethereum's governance. SharpLink Gaming also holds significant ETH, intensifying competition for the largest holder title.