BitMine
BitMine adds 76,881 Ether after raising $274 million
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BitMine Immersion Technologies has continued accumulating Ethereum, purchasing 76,881 ETH last week for roughly $136 million. The move follows a $274 million preferred stock sale and brings the firm's total Ether holdings to 5.62 million.
BitMine Immersion Technologies announced a preferred stock offering to raise up to $300 million. The move follows the playbook of Strategy as the firm manages large unrealized losses on its Ethereum holdings.
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Tom Lee's Ethereum portfolio currently shows a $7.35 billion loss following a slump in ETH prices.
BitMine Immersion Technologies, building on recent treasury growth past 4 million ETH, deposited 74,880 ETH ($219 million) into staking contracts on December 27—its initial foray into yield generation. As the largest corporate ETH holder with 4,066,062 ETH (3.37% of network supply, up from 3.97 million earlier this month), the move signals a shift toward active management amid stock volatility.