Ether broke through the $4600 mark! The largest "treasury" plans to significantly increase investment.

Cryptocurrency miner Bitmine plans to issue up to $20 billion worth of stock to raise funds to purchase more Ether.

Cryptocurrency miner Bitmine Immersion submitted documents to federal regulators on Tuesday (August 12) showing that the company plans to issue up to $20 billion in stock to raise funds to purchase more Ether (ETH), maintaining its position as the world's largest Ethereum "vault."

Bitmine's goal is to raise a total of $24.5 billion through common stock. Previously, the company issued $4.5 billion worth of common stock to investors, and this latest announcement marks a significant expansion of its common stock issuance.

It is currently unclear what proportion of the funds raised from the issuance of Bitmine's additional shares will be used to purchase Ether.

Ether's momentum is surging.

With the Trump administration in the United States rolling out favorable policies for cryptocurrency this year, the crypto market is booming.

As Bitmine Immersion ramps up its efforts in Ethereum, an increasing number of listed companies are also joining the Ethereum craze. Coupled with Ether ETFs achieving the largest single-day fund inflow in history, the price of this cryptocurrency variety has shown signs of recovery.

On Tuesday, the trading price of Ether has once briefly surpassed the $4600 mark, currently at $4583.32. It has increased by 55% over the past month and has risen nearly 40% year-to-date.

This is approaching the historical high of slightly over 4900 dollars that Ethereum reached in November 2021.

With the expansion of Ethereum's value, Bitmine Immersion's stock is also on the rise, closing at $62.44 on Tuesday, up 51% in the past month and nearly 700% year-to-date, with a latest market capitalization of only $7 billion.

The business model of this company can be said to have emulated the "Bitcoin whale" Strategy company, which raises funds through issuing stocks for investing in cryptocurrencies.

It is reported that Bitmine currently holds 1.15 million Ether, valued at approximately 5 billion USD at current prices, accounting for about 1% of the total circulating supply of Ether. The company also claims to be the "largest Ether vault in the world."

An analyst stated that the holdings of these companies could soon account for 10% of the total circulating Ether #ETH突破$4700# #CPI数据来袭# #晒出我的Alpha积分# #BTC# #ETH# .