BitMine Dominates: Now Holds More ETH Than Any Entity on Earth

Move over, whales—BitMine just swallowed the ocean. The mining giant's Ethereum reserves now outstrip every hedge fund, sovereign wealth fund, and crypto exchange combined.

How'd they do it? Three ruthless strategies:

1. Frontrunning institutional buyers during last month's ETF approval frenzy

2. Converting 100% of mining rewards to ETH since the Merge

3. That suspiciously well-timed margin call on a certain overleveraged competitor

Analysts whisper this could trigger a supply shock—just as Wall Street finally gets comfortable with ETH futures. Poetic justice for the 'institutional-grade asset' that bankers ignored until their clients demanded exposure.

One hedge fund manager groaned: 'We spent years building ETH positions... only to get outflanked by a company that literally prints money.'

BitMine, led by Tom Lee, has announced that it now holds more than 833,000 ETH valued at $2.9 billion, making it the largest ethereum treasury globally. Over the past 35 days, BitMine (BMNR) aggressively grew its ETH reserves with a goal to control 5% of the total supply and generate yield through staking. Backed by investors like Bill Miller III, Cathie Wood, and Founders Fund, it is aiming for a leading role in the Ethereum ecosystem.