BMNR Eyes Breakout Above $54 As BitMine Buys Over 200,000 ETH
BitMine Immersion Technologies Inc. (NYSE:BMNR) on Monday announced that its crypto and cash holdings have reached $13.4 billion, including 3.24 million Ethereum (CRYPTO: ETH) tokens worth $13 billion.
BitMine Becomes The Top Ethereum Treasury
The company disclosed that its holdings now include 3,236,014 ETH valued at $4,022 each, 192 Bitcoin (CRYPTO: BTC), $219 million in cash, and a $119 million equity stake in Eightco Holdings (NASDAQ:ORBS).
This positions BitMine as the world’s largest ETH treasury and second-largest overall after Strategy Inc..
BitMine’s Ethereum holdings represent roughly 2.7% of the total ETH supply, moving the firm past the halfway mark toward its goal of controlling 5%.
“This price dislocation represents an attractive risk/reward,” said Thomas “Tom” Lee, Chairman of BitMine and founder …
About The Author
