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25/08/25 22:10 UTC-04

BitMine Reports $8.8 Billion in Cryptocurrency and Cash Assets

BitMine Immersion Technologies (NYSE AMERICAN: BMNR) announced cryptocurrency and cash assets totaling $8.82 billion as of August 24. According to the press release, the company holds 1,713,899 Ethereum tokens valued at $4,808 per token, 192 Bitcoin, and $562 million in cash.

The company’s assets increased by $2.2 billion from $6.6 billion reported the previous week, adding more than 190,500 Ethereum tokens. BitMine launched its Ethereum treasury strategy on June 30, completing it on July 8.

BitMine states it owns the world’s largest Ethereum treasury and ranks second in overall cryptocurrency treasury holdings after MicroStrategy, which owns 629,376 Bitcoin worth $71 billion. The company’s shares have an average daily trading volume of $2.8 billion over five days as of August 24, ranking 20th among U.S. stocks by trading volume.

“Over the past week, BitMine increased its cryptocurrency and cash assets by $2.2 billion to $8.8 billion,” said Thomas Lee, chairman of BitMine and founder of Fundstrat. The company aims to acquire 5% of all Ethereum tokens.

BitMine operates Bitcoin mining facilities in Trinidad, Pecos (Texas), and Silverton (Texas). The company describes itself as focused on the long-term accumulation of cryptocurrency through mining operations and capital-raising deals.

According to the press release, institutional investors backing BitMine include Cathie Wood of ARK, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital.

See also: "Gemini Exchange Receives Approval to Operate in the European Union"

#BitMine #Crypto Assets

Editor: Pereyidenko Ihor
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