Ethereum Emerges as BitMine Immersion Technologies’ Primary Treasury Asset Amid Strategic Shifts

In a bold move echoing MicroStrategy's Bitcoin strategy, BitMine Immersion Technologies (NYSE American: BMNR) has announced ethereum as its primary treasury asset. The company has priced a $250 million private placement at $4.50 per share, with all net proceeds dedicated to acquiring and staking ETH. This strategic pivot underscores Ethereum's growing prominence in the digital asset space. Fundstrat co-founder Tom Lee, newly appointed as chairman, emphasized that this decision reflects Ethereum's expanding utility and potential in the blockchain ecosystem. As of July 2025, this development signals a significant endorsement of Ethereum's long-term value proposition, further solidifying its position as a cornerstone of institutional crypto strategies.

BitMine Immersion Technologies Adopts Ethereum as Primary Treasury Asset, Appoints Tom Lee as Chairman

BitMine Immersion Technologies (NYSE American: BMNR) has positioned Ethereum as its primary treasury asset, mirroring MicroStrategy's Bitcoin strategy. The company priced a $250 million private placement at $4.50 per share, with all net proceeds earmarked for acquiring and staking ETH. Fundstrat co-founder Tom Lee, now chairman, framed the move as a response to Ethereum's growing role in stablecoin settlement and institutional adoption.

Lee emphasized Ethereum's proof-of-stake mechanism as a critical infrastructure for securing stablecoins issued by major financial institutions. "When Goldman Sachs or JPMorgan issue stablecoins on Ethereum, they'll want to secure the network by staking," he noted during a CNBC appearance. The pivot underscores Ethereum's evolving utility beyond speculative trading into foundational financial infrastructure.

Ethereum Foundation Offloads $32M in ETH as Fidelity Accumulates $25.7M Amid Market Crosscurrents

The Ethereum ecosystem faces a pivotal moment as institutional and foundational actors diverge sharply. The Ethereum Foundation has systematically transferred 13,000 ETH ($32M) to multisig wallets at a rate of 1,000 ETH daily, sparking criticism from community members who advocate for DeFi-based treasury management strategies.

Meanwhile, Fidelity's $25.7M Ethereum purchase underscores growing institutional interest. Whale accumulation has reached historic levels, with addresses holding 1,000-10,000 ETH now controlling 14.2M tokens - a buying spree reminiscent of 2018's bear market bottom formations.

Market technicians note the $2,200-$2,800 range represents a critical inflection zone. The foundation's sustained selling pressure contrasts with both institutional demand and whale accumulation, creating competing forces that could determine Ethereum's next major price movement.

Polyhedra’s Phoenix Revival Program Sparks Backlash Amid ZKJ Token Crash Fallout

Polyhedra Network has launched its Phoenix Revival Program, targeting ZKJ token holders who endured a 90% liquidity crash on June 15. The initiative rewards long-term stakers with early access to ecosystem airdrops and zero-knowledge infrastructure incentives—but community outrage has erupted over abandoned buyback promises.

Eligibility hinges on users' staking positions at the exact moment of the crash (13:00 UTC, June 15), measured across Ethereum and Binance Smart Chain. Polyhedra frames this as a loyalty reward, though critics decry it as inadequate compensation for $500 million in evaporated value.

The firm's X post touts future product integrations and whitelist opportunities, yet provides no concrete timeline. Market observers note the MOVE risks further alienating investors already reeling from what some call a 'coordinated liquidity attack.'

Lido DAO Approves Dual Governance Model to Enhance Ethereum Decentralization

Lido DAO has approved a dual governance model after three years of development, marking a significant step toward preventing governance capture and maintaining Ethereum's decentralization. The new system, set to go live on-chain by July 4, introduces a veto mechanism allowing staked ETH (stETH) holders to challenge decisions made by LDO token holders.

The updated governance process now includes an additional phase where stETH holders can delay proposals for up to 45 days while retaining the option to withdraw their staked assets. This change aims to balance power between governance participants and stakers, reinforcing censorship resistance.

As an incentive for early adopters, Lido is distributing POAP NFTs to users who voted in favor of the dual governance proposal. Currently, 11 NFTs have been claimed, with 176 remaining available for eligible participants.

Ethereum Stagnates Despite Bullish Catalysts in June

Ethereum (ETH) closed June with a 1.5% decline, defying expectations amid strong institutional inflows and record accumulation address activity. The cryptocurrency failed to capitalize on bullish developments, including $1.16 billion in spot ETF inflows—the second-best month since launch—and unprecedented buying from accumulation addresses.

Geopolitical tensions and a surge in CME short positions contributed to price stagnation. ETH faced rejection NEAR the critical $2,500 level, forming a bearish cross on the 12-hour chart. The asset now trades at $2,400, down 3% on Tuesday and 25% year-to-date.

Market observers note the disconnect between fundamental demand signals and price action. 'When accumulation addresses show historic buying but prices don't respond, it often precedes major moves,' said one trader. The dichotomy suggests either accumulation before a breakout or distribution before further downside.

Ethereum’s Price Surges Back To $2,500, And Institutions Are Taking Notice

Ethereum has reignited bullish sentiment with a sharp rebound above $2,500, marking a dramatic recovery from recent lows near $2,200. The rally coincides with accelerating institutional demand, as evidenced by seven consecutive weeks of net inflows into ETH spot ETFs—totaling over 106,000 ETH last week alone.

Glassnode data reveals growing accumulation patterns among major investors, suggesting renewed confidence in Ethereum’s long-term prospects. The altcoin’s resurgence appears to be drawing strategic positioning from institutional players ahead of potential ETF approvals.