BitMine Immersion, backed by Peter Thiel, disclosed crypto holdings exceeding $10.7 billion, with a dominant position in Ethereum, reinforcing institutional momentum in digital assets.
BitMine Immersion reported crypto holdings totaling $10.7 billion, including 2,151,676 ETH valued at $9.7 billion, 192 BTC worth nearly $22 million, $569 million in unencumbered cash, and a $214 million stake in Eightco. According to Fundstrat’s Tom Lee, Ethereum is positioned for a long-term supercycle driven by Wall Street adoption and AI integration. BitMine, now the largest corporate holder of Ethereum, aims to acquire 5% of ETH supply. Ethereum traded at $4,520, down 1.6% daily but up 78% over three months. BitMine’s stock has surged 1,133% since June, recently trading near $53 per share.