Bitmine stock extends gains as Ethereum holdings approach 5% of global supply

Bitmine Immersion Technologies shares extended their gains as Bitcoin and Ethereum rallied, lifting the value of the company’s digital-asset holdings. Management said Bitmine owns 5.82 million ETH, equal to 4.8% of Ethereum’s 120.7 million-token supply, putting it 96% of the way toward its goal of acquiring 5% of the global supply. The company’s crypto, cash, marketable securities and moonshot holdings total $11.4 billion, while more than 5 million ETH is staked to generate recurring yield. BMNR remained above its 20-day and 50-day moving averages but below the 200-day average, with an RSI reading of 70.08 signaling stretched momentum.

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