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15/09/25 15:42 UTC-04

BitMine Reports $10.8 Billion in Cryptocurrency and Cash Holdings

BitMine Immersion Technologies (New York American: BMNR) announced total cryptocurrency and cash assets of $10.771 billion as of September 14 at 1:00 a.m., according to the company’s press release.

The assets include 2,151,676 Ethereum (ETH) tokens valued at $4,632 per ETH based on Bloomberg prices, 192 Bitcoin, a stake in Eightco (ORBS) worth $214 million, and $569 million in cash.

The company stated it holds the world’s largest ETH treasury and ranks second among global crypto treasuries after MicroStrategy (MSTR), which owns 638,460 Bitcoin worth $74 billion.

The average daily trading volume of BitMine shares was $2.0 billion over five days as of September 12, placing the company 28th among U.S.-listed stocks, according to Fundstrat data cited in the release.

“BitMine holds nearly $11 billion in total crypto assets, surpassing the 2 million ETH mark,” said Thomas Lee of Fundstrat, who serves as chairman of BitMine. Lee linked the company’s strategy to what he described as an “Ethereum supercycle”, driven by Wall Street’s adoption of blockchain technology and the creation of a token economy fueled by artificial intelligence.

According to the announcement, the company’s institutional investors include Cathie Wood’s ARK, Founders Fund, Pantera, and Galaxy Digital. BitMine also stated its goal to acquire 5% of all ETH tokens.

BitMine operates Bitcoin mining facilities in Trinidad, Pecos (Texas), and Silverton (Texas), focusing on accumulating cryptocurrency for long-term investments through mining operations and capital-raising activities.

See also: "Capital Group Hits Jackpot on Bitcoin Company Investment"

#Crypto Assets #Investment #Profit

Editor: Pereyidenko Ihor
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