BitMine Immersion Technologies announced that its holdings of Ethereum (ETH) now exceed $2 billion. This significant increase occurred just sixteen days after the company closed its initial $250 million private placement.
As of July 23, 2025, at 11:59 p.m. ET, the company's ETH holdings totaled 566,776 tokens. These holdings were valued at an average price of $3,643.752 per ETH, showcasing rapid accumulation.
This amount surpasses the initial $250 million PIPE proceeds by over 700%, underscoring the aggressive pace of its Ethereum treasury strategy. Chairman Thomas 'Tom' Lee stated the company is well on its way to acquiring and staking 5% of the overall ETH supply.
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