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Tom Lee's BitMine Boosts Ethereum Treasury Holdings to $13 Billion

BitMine Immersion Technologies has announced a significant increase in its Ethereum holdings, now valued at $13 billion. Following a recent purchase of 179,251 ETH worth approximately $823 million, BitMine’s total ETH holdings have reached 2.83 million. This positions BitMine as the largest ETH treasury, surpassing SharpLink Gaming, which holds about $3.85 billion in ETH. The company’s chairman, Tom Lee, emphasized their strategic focus during a meeting with Ethereum developers, noting the potential of Ethereum and artificial intelligence in shaping the future economy. Additionally, BitMine's holdings include cash reserves of $456 million and investments in other companies such as Eightco Holdings worth $113 million. The price of ETH has experienced a recent surge, adding to the value of BitMine’s investments, and the company's stock has seen a notable increase following this news.

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