最新报道:BitMine Immersion Technologies (BMNR) holds 1.87 million ETH ($8.1–8.98B as of August 2025), making it the largest public Ethereum custodian. Its hybrid governance model, blending Delaware’s capital-raising flexibility with Quebec’s transparency mandates, attracts institutional investors. BMNR’s board includes Ethereum co-founder Joseph Lubin, enhancing credibility. Political ties with U.S. Representative Cleo Fields, architect of the 2025 BITCOIN Act, have aided regulatory navigation. BMNR’s mNAV flywheel model drove a 640% monthly NAV surge by June 2025, though reliance on ETH performance and regulatory stability poses risks. The firm aims to control 5% of ETH supply, but share dilution since 2023 remains a concern.