BitMine Shifts Focus to Ethereum, Launching Multi-Billion Strategy

In a major move, BitMine is transforming its strategy from Bitcoin mining to actively acquiring Ethereum. This multi-billion dollar shift will see the company sell stock worth $20 billion in an effort to increase its stake in ETH by accumulating up to 5% of the total supply. This strategic shift, led by Thomas Lee and his team at BitMine Immersion Technology, promises significant market impact. The move is expected to influence both BitMine’s stock value and Ethereum’s broader liquidity, potentially affecting staking and DeFi dynamics.