BitMine Immersion Reports Ether Holdings Over $6.6 Billion Amid Stock Decline
BitMine Immersion Technologies (BMNR) announced in an SEC filing that its ether (ETH) holdings surpassed 1.5 million, valued at approximately $6.6 billion. This positions BMNR as the second-largest public corporate crypto owner, following MicroStrategy (MSTR) with $72 billion in bitcoin (BTC).
- BMNR's recent purchases exceeded MARA Holdings, another miner focused on BTC.
- BMNR shares fell 7% to $54 amid a broader decline in ETH, which dropped below $4,300, down 5% in 24 hours.
- ETH had recently approached $4,800, near a record high.
- Other digital asset treasury firms also experienced declines, including SharpLink Gaming (SBET), down 3%, and DeFi Development (DFDV) and Upexi (UPXI), down 9% and 6% respectively.