Bitmine Immersion Technologies Inc. has filed a shelf registration with the U.S. Securities and Exchange Commission for the sale of up to $2.5 billion in common stock, saying the proceeds will be used primarily to buy additional Ether and for general corporate purposes. The publicly traded crypto-mining and immersion-cooling company already holds about 566,776 Ether—valued at just over $2 billion at an average price of roughly $3,644—after doubling its position in the past week. Chairman Tom Lee said the firm ultimately aims to accumulate as much as 5 percent of Ethereum’s circulating supply, or roughly six million coins worth about $22 billion at current prices, a strategy that would mirror MicroStrategy’s aggressive bet on Bitcoin.