BitMine Immersion ETH Holdings Rise to 2.65M Tokens, Over 2% Supply
BitMine Immersion Technologies (BMNR) reported its ether holdings increased to 2.65 million tokens, representing over 2% of the total ETH supply. This reflects a growth of approximately 200,000 ETH, valued at around $820 million.
The company's total assets, including 192 BTC and substantial cash reserves, are valued at $11.6 billion.
BitMine aims to own 5% of all ETH to capitalize on Ethereum's network effects.
Tom Lee, BitMine’s chairman, views crypto and AI as major investment narratives, with ETH being a primary treasury asset due to its future potential.
BitMine is the leading ETH treasury firm, surpassing SharpLink Gaming, which holds 838,730 ETH. Together, these firms hold 5.26 million ETH, or about 4.34% of the total supply.
Shares rose by 3% in premarket trading, coinciding with ETH's price increase to $4,110.
