TLDR
- Bitmine Immersion, led by Tom Lee, now controls 3.4% of Ethereum’s circulating supply.
- The company holds over 4.167 million ETH, valued at approximately $13.32 billion.
- Bitmine’s accumulation strategy reflects a long-term goal to control up to 5% of ETH’s total supply.
- Ethereum exchange balances have dropped sharply, with only 16.3 million ETH available for trading.
- Institutional players like Sharplink also hold large ETH positions, currently