The largest corporate ether holder posted a $3.8 billion quarterly loss as its pivot from mining to ETH accumulation continues. Bitmine Immersion Technologies has rapidly transformed from a mining firm into a leveraged Ethereum treasury, doubling its share count in six months and raising more than $10 billion to accumulate nearly 5% of all ether. The company now holds 4.87 million ether at an average cost of $2,206 per token, making it the largest corporate Ethereum holder, but it reported a $3…
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