BitMine lifts Ethereum holdings to 6 million, pursues 5% supply target despite $4 billion loss

BitMine Immersion Technologies increased its Ethereum holdings last week, purchasing 12,532 ETH and bringing its total treasury to approximately 6.028 million tokens. The company, led by Chairman Thomas Lee, is now approaching its stated goal of holding 5% of Ethereum’s circulating supply, despite facing more than $4 billion in unrealized losses on these assets. BitMine Immersion Technologies operates as a digital asset mining and holding company specializing in blockchain and cryptocurrency applications. By steadily adding to its ETH reserves, BitMine has positioned itself as a major holder in the Ethereum ecosystem.