BitMine Just Bought $821M in Ethereum, Pushing Its Treasury to $13.4B – Here is What You Need to Know
- BitMine added $821M in ether last week, raising its holdings to 2.83M ETH worth $13.4B in total reserves.
- The company also holds cash, bitcoin, and Worldcoin-linked assets, while its stock surged over 4%.
- BitMine aims to control 5% of ETH’s supply, staking tokens to generate yield while betting big on crypto’s future.
BitMine Immersion Technologies added another 179,251 ether to its reserves last week, a purchase worth roughly $821 million at current prices. This move pushed its total ETH holdings past 2.83 million tokens, which equals more than 2% of Ethereum’s circulating supply. The company, led by Fundstrat’s Thomas Lee, continues to strengthen its position as the largest listed ether treasury.
Total Reserves Now at $13.4 Billion
Alongside its massive Ethereum stash, BitMine also holds $456 million in cash, 192 bitcoin, and a stake in Eightco Holdings, a treasury vehicle focused on Worldcoin (WLD). Altogether, its crypto and cash reserves now total $13.4 billion. The company’s stock responded positively, jumping 4.3% in pre-market trading to just over $59—its highest in two weeks.
Aiming to Control 5% of Ethereum Supply
BitMine has made clear its long-term ambition: securing control of 5% of Ethereum’s total supply. By staking its ETH, the company expects to generate yield while cementing its dominance in the digital asset treasury space. Currently, only Michael Saylor’s Strategy Group holds a larger treasury in the crypto world, with its massive bitcoin-focused reserves.
AI and Crypto Driving the Vision
Chairman Thomas Lee remains confident in two key supercycle narratives: artificial intelligence and crypto. He highlighted that ETH is still trading at what he sees as a “discount to the future,” making it an ideal long-term bet. With Ethereum staking opportunities and growing institutional adoption, BitMine’s strategy reflects a clear conviction that ETH will continue to rise in value over the coming years.
The post BitMine Just Bought $821M in Ethereum, Pushing Its Treasury to $13.4B – Here is What You Need to Know first appeared on BlockNews.
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BitMine Just Bought $821M in Ethereum, Pushing Its Treasury to $13.4B – Here is What You Need to Know
- BitMine added $821M in ether last week, raising its holdings to 2.83M ETH worth $13.4B in total reserves.
- The company also holds cash, bitcoin, and Worldcoin-linked assets, while its stock surged over 4%.
- BitMine aims to control 5% of ETH’s supply, staking tokens to generate yield while betting big on crypto’s future.
BitMine Immersion Technologies added another 179,251 ether to its reserves last week, a purchase worth roughly $821 million at current prices. This move pushed its total ETH holdings past 2.83 million tokens, which equals more than 2% of Ethereum’s circulating supply. The company, led by Fundstrat’s Thomas Lee, continues to strengthen its position as the largest listed ether treasury.
Total Reserves Now at $13.4 Billion
Alongside its massive Ethereum stash, BitMine also holds $456 million in cash, 192 bitcoin, and a stake in Eightco Holdings, a treasury vehicle focused on Worldcoin (WLD). Altogether, its crypto and cash reserves now total $13.4 billion. The company’s stock responded positively, jumping 4.3% in pre-market trading to just over $59—its highest in two weeks.
Aiming to Control 5% of Ethereum Supply
BitMine has made clear its long-term ambition: securing control of 5% of Ethereum’s total supply. By staking its ETH, the company expects to generate yield while cementing its dominance in the digital asset treasury space. Currently, only Michael Saylor’s Strategy Group holds a larger treasury in the crypto world, with its massive bitcoin-focused reserves.
AI and Crypto Driving the Vision
Chairman Thomas Lee remains confident in two key supercycle narratives: artificial intelligence and crypto. He highlighted that ETH is still trading at what he sees as a “discount to the future,” making it an ideal long-term bet. With Ethereum staking opportunities and growing institutional adoption, BitMine’s strategy reflects a clear conviction that ETH will continue to rise in value over the coming years.
The post BitMine Just Bought $821M in Ethereum, Pushing Its Treasury to $13.4B – Here is What You Need to Know first appeared on BlockNews.
Read More