{"id":49010,"date":"2025-09-23T11:01:52","date_gmt":"2025-09-23T11:01:52","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=49010"},"modified":"2025-09-23T11:01:52","modified_gmt":"2025-09-23T11:01:52","slug":"bitmine-hits-2-holdings-of-total-eth-supply-target","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=49010","title":{"rendered":"BitMine Hits 2% Holdings of Total ETH Supply Target"},"content":{"rendered":"<div>\n<p>BitMine Immersion Technologies reported on Monday that it had reached a milestone in terms of Ether holdings \u2013 2% of the entire supply.<\/p>\n<p>According to the announcement, the company now holds a whopping 2,416,054 ETH worth around $10 billion at current market prices. This equates to 2% of the entire supply of Ether, which is 121 million tokens.<\/p>\n<p>BitMine\u2019s longer-term target is 5% of the total supply, which would be around 6 million ETH.<\/p>\n<h2>40% Towards Long-term Target<\/h2>\n<p>\u201cBitMine ETH holdings now exceed 2% of supply as we move towards our \u2018Alchemy of 5%\u2019 of ETH supply,\u201d <a href=\"https:\/\/www.prnewswire.com\/news-releases\/bitmine-immersion-bmnr-announces-eth-holdings-exceed-2-of-ethereum-network-with-eth-holdings-exceeding-2-4-million-tokens-and-total-crypto-and-cash-holdings-of-11-4-billion-302562794.html\" data-wpel-link=\"external\" target=\"_blank\">said<\/a> Chairman Tom Lee of Fundstrat.<\/p>\n<p>He added that the firm approached 1% of ETH supply holdings in early August when BitMine\u2019s equity was $38, \u201cand as we exceed 2%, BitMine\u2019s share price is now over $61.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">BitMine today made two announcements:<\/p>\n<p>\u2013 $365.24 million registered direct offering at $70 per <a href=\"https:\/\/twitter.com\/search?q=%24BMNR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">$BMNR<\/a> share<br \/>\n\u2013 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">$ETH<\/a> holdings &gt;2% of Ethereum supply or 2.4 million<\/p>\n<p>\u2026keep reading<\/p>\n<p>Link <a href=\"https:\/\/t.co\/zeBxddSuhd\" data-wpel-link=\"external\" target=\"_blank\">https:\/\/t.co\/zeBxddSuhd<\/a><\/p>\n<p>Link <a href=\"https:\/\/t.co\/mw9hL8rC2S\" data-wpel-link=\"external\" target=\"_blank\">https:\/\/t.co\/mw9hL8rC2S<\/a><\/p>\n<p>Ticker: <a href=\"https:\/\/twitter.com\/search?q=%24BMNR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">$BMNR<\/a><br \/>\nChairman:\u2026<\/p>\n<p>\u2014 Bitmine (NYSE-BMNR) $ETH (@BitMNR) <a href=\"https:\/\/twitter.com\/BitMNR\/status\/1970113351016468683?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">September 22, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Lee confirmed his belief that Wall Street and AI moving onto the blockchain \u201cshould lead to a greater transformation of today\u2019s financial system. And the majority of this is taking place on Ethereum.\u201d<\/p>\n<p>Ethereum treasury companies have scooped up 5.25 million ETH so far this year, and BitMine has 46% of that total, <a href=\"https:\/\/www.strategicethreserve.xyz\/\" data-wpel-link=\"external\" target=\"_blank\">according<\/a> to SER. BitMine also <a href=\"https:\/\/www.prnewswire.com\/news-releases\/bitmine-immersion-bmnr-announces-pricing-of-365-24mm-registered-direct-offering-at-70-per-share-302562797.html\" data-wpel-link=\"external\" target=\"_blank\">announced<\/a> on Monday that it raised $365 million by selling 5.2 million shares at $70 per share to an institutional investor.<\/p>\n<p>The deal includes warrants allowing the investor to buy up to 10.4 million more shares at $87.50 each, exercisable until March 2027. If fully exercised, this could bring in another $913 million for BitMine.\u00a0Lee emphasized that BitMine is \u201cthe only large-cap US stock to give investors direct exposure to Ethereum.\u201d<\/p>\n<p>BitMine stock (BMNR) tanked 10% on Monday as Ether prices pulled back hard. The shares fell to $56 in after-hours trading, but remain up over 1,200% since the company started <a href=\"https:\/\/cryptopotato.com\/tom-lees-bitmine-buys-more-eth-after-fundstrat-predicts-54x-gain\/\" data-wpel-link=\"internal\">accumulating<\/a> ETH in late June.<\/p>\n<p>Bitcoin treasury companies, Strategy and Metaplanet, also <a href=\"https:\/\/cryptopotato.com\/strategy-joins-metaplanet-with-another-bitcoin-purchase\/\" data-wpel-link=\"internal\">acquired<\/a> more BTC on Monday.<\/p>\n<h2>Ether Prices At Support<\/h2>\n<p>There have been no further <a href=\"https:\/\/cryptopotato.com\/crypto-markets-shed-over-150-billion-daily-as-altcoins-bitcoin-bleed-out-market-watch\/\" data-wpel-link=\"internal\">losses<\/a> in ETH prices over the last day, with the asset trading at $4,200 at the time of writing. However, it is at the lower bounds of its six-week trading channel and clinging to support at current levels.<\/p>\n<p>With the leverage flushout over, crypto assets appear to have stabilized, but the September correction may not be over just yet.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/bitmine-hits-2-holdings-of-total-eth-supply-target\/\">BitMine Hits 2% Holdings of Total ETH Supply Target<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>BitMine Immersion Technologies reported on Monday that it had reached a milestone in terms of Ether holdings \u2013 2% of the entire supply. According to the announcement, the company now holds a whopping 2,416,054 ETH worth around $10 billion at current market prices. This equates to 2% of the entire supply of Ether, which is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-49010","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/49010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49010"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/49010\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}