BitMine Immersion Technologies (BMNR), chaired by Tom Lee, said Monday it now controls more than 2% of ether's supply and raised $365 million to expand its holdings.

The company announced this morning that its treasury, valued at $11.4 billion as of Sept. 21, consists of 2,416,054 ETH at $4,497 per token, 192 bitcoin (BTC), $345 million in cash and a $175 million equity stake in Eightco Holdings.

BitMine described itself as the world’s largest public holder of ether and the second-largest crypto treasury overall, trailing only Michael Saylor’s Strategy Inc. (MSTR).

BitMine is chaired by Tom Lee, who is also head of research at Fundstrat and chief investment officer at Fundstrat Capital.

Lee said the company is pursuing what he calls the “alchemy of 5%,” aiming to accumulate 5% of the t

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