BitMine Immersion Technologies has significantly increased its cryptocurrency treasury, adding $1.7 billion, or over 373,000 ETH, in the past week alone. This brings its total Ethereum holdings to 1,523,373 tokens, valued at approximately $6.6 billion, making BitMine the second-largest holder of ETH after Strategy. The firm has executed rapid investments in Ethereum since launching its new strategy two months ago and has plans to raise an additional $20 billion through a stock offering to continue expanding its Ethereum assets. Tom Lee, Chairman of BitMine, emphasized that this investment strategy is aligned with significant upcoming changes in the financial landscape due to the GENIUS Act and rising stablecoin usage. Meanwhile, Ethereum ETFs have seen a record influx of over $1 billion, highlighting growing institutional interest in Ethereum. Despite seeing fluctuations in share values—down approximately 3.7% for BitMine—both BMNR and ETH have shown positive gains over the past month, indicating a robust market interest in Ethereum and related investments.

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