BitMine Immersion Reports Ethereum Holdings Surpass 3 Million Tokens

BitMine Immersion Technologies, Inc. (NYSE AMERICAN: BMNR) has disclosed that its Ethereum (ETH) holdings have exceeded 3.03 million tokens, marking over 2.5% of the total ETH supply. This milestone is part of BitMine's long-term strategy to acquire 5% of ETH holdings. The company's total crypto and cash reserves amount to $12.9 billion, encompassing 192 Bitcoin, a $135 million investment in Eightco Holdings, and $104 million in cash. BitMine's stock is one of the most actively traded in the U.S., with an average daily trading volume of $3.5 billion.

The company has gained significant institutional backing from notable investors like Cathie Wood of ARK, Founders Fund, and others. BitMine's Chairman, Thomas "Tom" Lee, emphasized the strategic opportunity presented by recent ETH price declines, which facilitated the acquisition of an additional 202,037 ETH. The company's financial strategies are informed by insights into the evolving blockchain landscape, including the transformative impact of AI and Wall Street's integration with blockchain technologies.