BitMine Immersion Technologies, the world’s largest Ethereum treasury company, just added another 179,251 ETH to its holdings over the past week. This big move brings BitMine’s total Ethereum stash to 2,830,151 ETH — currently worth more than $13.23 billion.

The company, led by Fundstrat’s Tom Lee, is heavily focused on Ethereum as its main investment. BitMine also holds 192 Bitcoin, around $456 million in cash that isn’t tied up in anything, and a $113 million stake in Eightco Holdings (ORBS). This investment in Eightco is part of BitMine’s “moonshot” strategy — high-risk, high-reward bets aimed at supporting projects built on Ethereum.

Eightco Holdings recently revealed plans to raise about $270 million to back a treasury plan focused on Worldcoin (WLD), a crypto project built on the Ethereum network and associated with OpenAI’s Sam Altman.

With over 2.3% of all existing ETH now under its control, BitMine has set its sights on owning 5% of the total Ethereum supply. According to Lee, the company had in-depth talks with Ethereum developers and key figures in the space. The takeaway? The Ethereum community is working hard to make it easier for Wall Street and artificial intelligence (AI) projects to build on the network.

Lee believes Ethereum is well-positioned to benefit from two major long-term trends: the rise of AI and the growth of crypto. Thanks to Ethereum’s strong performance history and constant uptime, it remains their top pick for long-term investment. He sees today’s ETH price as a discount to its future value — which is why it’s the core asset in BitMine’s treasury.

On the stock side, BitMine Immersion Technologies (BMNR) saw a 7.4% increase on Monday, showing growing investor interest in its strategy.