Bitmine Reveals $500m ETH Treasury

Bitmine Immersion Technologies, a Bitcoin mining firm, has become the fourth-largest strategic ETH holder after buying 163,142 ETH, currently valued at around $500 million. The company trades on the NYSE as BMNR and is led by Thomas Lee, who leads its ETH strategy. Separately, more than 29% of the ETH supply is staked on the Beacon Chain, with about 35.9 million ETH staked across roughly 1.1 million validators. Aave also reached $50 billion in combined TVL across its deployments.