Bitmine Immersion's Ethereum holdings just hit a major milestone—the mining entity now controls 3.2% of total ETH supply, translating to roughly $12 billion in assets. This substantial position makes them one of the most significant Ethereum holders to watch. The scale of this accumulation underscores the growing importance of institutional and large-scale players in shaping the Ethereum ecosystem dynamics. Such concentrated holdings often signal confidence in the asset's long-term value, though they also highlight the ongoing concentration trends within the network. Market participants and on-chain analysts are keeping close tabs on these major wallet movements.