Bitmine Immersion Buys ETH, Crypto as Wartime Store

Ethereum treasury company Bitmine Immersion has significantly expanded its holdings, acquiring an additional 71,179 ETH, bringing its total to over 4.73 million ETH valued at approximately $9.8 billion. This move positions Bitmine as a dominant player in Ethereum treasury management, holding over five times more ETH than its closest competitor. The company's total crypto and cash assets now stand at $10.7 billion. Chairman Tom Lee commented that cryptocurrencies, particularly ETH, are performing well as a 'good wartime store of value,' outperforming broader markets amidst geopolitical tensions.