BitMine Immersion's substantial holding of 3,032,188 ETH, valued at approximately $12.15 billion, underscores the concentrated risk within corporate crypto treasuries. This comes amid heightened scrutiny following a $19 billion derivatives market wipeout, raising concerns over solvency and liquidity for companies with significant crypto reserves. The combined corporate treasuries for Bitcoin and Ethereum now surpass $162.7 billion, indicating a significant systemic exposure to these digital assets.