Major Firms Increase Crypto Reserves with New Treasury Announcements
Major digital asset firms are expanding their crypto reserves, indicating increased institutional interest in blockchain assets.
- BitMine Immersion Technologies (BMNR) has acquired 833,137 ETH worth over $2.9 billion, making it the largest ether treasury globally.
- BMNR aims for 5% of ETH’s total supply and plans staking for yield-based profitability. Its shares increased by 6% today.
- Investor Bill Miller III joins a roster of backers including ARK’s Cathie Wood and Kraken. BMNR ranks 42nd among U.S. stocks by liquidity with an average daily trading volume of $1.6 billion.
- Verb Technology (VERB) announced a $558 million private placement to establish a toncoin treasury in partnership with Kingsway Capital, involving over 110 institutional investors.
- Verb will rebrand as TON Strategy Co. (TSC) and focus on acquiring toncoin (TON). VERB stock surged 65%, while TON dropped by 8%. The transaction is set to close by August 7.
- Sequans Communications (SQNS) purchased 85 BTC for $10 million, increasing its total holdings to 3,157 BTC, viewing bitcoin as a long-term reserve. SQNS shares rose by 1% post-announcement.