PANews reported on July 24 that according to PR Newswire, BitMine Immersion Technologies (NYSE AMERICAN: BMNR) announced that its Ethereum (ETH) holdings have exceeded $2 billion, with a total of 566,776 ETH, far exceeding the $250 million in the first private placement completed on July 8. Thomas "Tom" Lee, chairman of the company's board of directors, said that BitMine is one step closer to achieving its goal of holding and staking 5% of the world's total ETH. CEO Jonathan Bates said that the company will continue to advance the Ethereum treasury strategy to help the development of the Ethereum ecosystem.