BMNR Drops 6%, But Tom Lee Adamant: ‘Crypto Cycle Top 12-36 Months Away’
BitMine Immersion Technologies Inc. (NYSE:BMNR) is down almost 6% on Monday, despite announcing that its crypto and cash holdings have grown to $11.8 billion in crypto and cash holdings.
BMNR Declines Even As BitMine Lifts Ethereum Holdings To 3.6 Million Tokens
BitMine disclosed holdings of 3,559,879 Ethereum (CRYPTO: ETH) valued at $3,120 per token, 192 Bitcoin, a $37 million position in Eightco Holdings, and $607 million in cash, according to the company’s latest filing.
The update reaffirmed BitMine’s status as the world’s largest Ethereum treasury and the second-largest global crypto treasury behind Strategy.
The company noted it now owns 2.9% of the total ETH supply and is more than halfway to its goal of reaching what it calls the “Alchemy of 5%.”
BitMine remains one of the most actively traded stocks in the U.S. Based on Fundstrat data included in the filing.
The stock averages $1.4 billion in daily dollar volume, ranking …
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