Bitmine Immersion appears to be on the verge of becoming a whale unlike any other – holding roughly 5% of all Ethereum in existence. That’s not just a big wallet; it’s a level of control that even the largest Bitcoin mining pools rarely achieve. For context, a 5% ETH share would dwarf most exchange reserves and give Bitmine a seat at the table in any future network decisions. Retail investors should note that this kind of concentration cuts both ways: it can steady the price during sell-offs, but it also creates a single point of failure that could shake the market if BMNR ever decides to liquidate.
At the same time, Ethereum is trading around $1,735 with a modest 1%