- BitMine Immersion claims to hold 3.24M ETH
- The stash is worth around $13.4 billion at current prices
- Raises questions on custody, transparency, and strategy
BitMine Immersion Reveals Massive ETH Holdings
In a headline-grabbing update, BitMine Immersion has claimed to hold a staggering 3.24 million Ethereum ( ETH ) — a stash currently valued at approximately $13.4 billion. The figure, if verified, would make BitMine one of the largest ETH holders in the world, rivaling even some of the largest institutional crypto players.
The announcement has caught the attention of both retail and institutional observers, given the sheer scale of the holdings and the lack of prior visibility into BitMine Immersion’s operations.
Massive Holdings, But Few Details
While BitMine’s claim has generated buzz, it also raises questions about custody, proof of reserves, and overall transparency. As of now, the firm has not provided blockchain addresses or third-party audit confirmation to support the holding size.
If accurate, BitMine Immersion’s ETH position would account for nearly 2.7% of Ethereum’s circulating supply, placing it alongside centralized exchanges like Binance and staking platforms like Lido in terms of ETH dominance.
Industry experts are now calling for greater clarity from BitMine to confirm the legitimacy and breakdown of these assets — whether they are held for mining, staking, treasury, or client custody purposes.
What This Means for Ethereum and the Market
The presence of such a large ETH holder can have several implications:
- Market impact: A whale of this size can influence price dynamics during large buy/sell events.
- Staking power: If even a portion of this ETH is staked, it could grant BitMine substantial influence in Ethereum’s proof-of-stake network.
- Investor interest: The claim could also drive increased institutional curiosity about Ethereum as a long-term investment.
Whether this is a strategic flex or a signal of upcoming activity, all eyes are now on BitMine Immersion for more details.
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