Bitmine’s ETH Stash Hits $13.2B – What Could Go Wrong? 🧾💰

by

Bitmine Immersion Technologies says its total crypto and cash reserves have reached $13.2 billion after ramping up its ethereum stash to 3.5 million tokens. 🧾💸

Bitmine Boosts 🚀 ETH Treasury by 110K Tokens, Adds $398M in Cash

Bitmine Immersion Technologies (NYSE American: BMNR) revealed on Nov. 10 that it now holds 3,505,723 ethereum ( ETH) valued at $3,639 per token, alongside 192 bitcoin and $398 million in unencumbered cash. 🤑

The company also reported a $61 million “moonshot” investment in Eightco Holdings (Nasdaq: ORBS), according to a press release shared via PR Newswire. 🌕

Chairman Tom Lee of Fundstrat said Bitmine boosted its ethereum holdings by 110,288 tokens this week-an increase of 34% over the prior week-bringing its share of the total ETH supply to 2.9%. “We’re now more than halfway toward the ‘alchemy of 5%’ goal,” Lee said. He added that the firm took advantage of a dip in ETH prices to expand its position while raising its cash reserves. 💸

Bitmine’s ethereum position makes it the world’s largest ETH treasury and second-largest overall crypto treasury, trailing only Strategy Inc. (MSTR), which holds roughly 641,205 bitcoin worth about $67 billion. The company’s growing balance sheet underscores its aggressive approach to digital asset accumulation, positioning itself as a major player in decentralized finance (defi) infrastructure and treasury management. 🏦

Lee said Bitmine and the Ethereum Foundation recently hosted a summit at the New York Stock Exchange, drawing interest from major financial institutions exploring asset tokenization. He described ethereum as a “super cycle story” over the next decade, citing parallels between blockchain innovation and the post-Bretton Woods modernization of Wall Street in the 1970s. 📈

Fundstrat data show Bitmine is now one of the most traded U.S. equities, ranking 48th with an average daily dollar volume of $1.6 billion. That places it just behind Lam Research and ahead of Arista Networks among more than 5,700 publicly listed stocks. 📊

Lee noted that despite October’s crypto deleveraging event, institutional demand remains strong. Bitmine and Strategy collectively account for 88% of all global digital asset treasury (DAT) trading volume, with Bitmine leading peers in net asset value (NAV) growth and stock liquidity. 🧮

FAQ ❓

  • What did Bitmine announce about its crypto holdings?
    Bitmine reported $13.2 billion in total crypto and cash assets, including 3.5 million ethereum. 🧾
  • How much of the ethereum supply does Bitmine own?
    The company holds about 2.9% of all ethereum in circulation. 🪙
  • Who leads Bitmine Immersion Technologies?
    Fundstrat’s Thomas “Tom” Lee serves as chairman of Bitmine. 🧑‍💼
  • Which firms are major investors in Bitmine?
    Backers include ARK’s Cathie Wood, Founders Fund, Pantera, and Galaxy Digital. 🤝

Read More

2025-11-10 23:38