BitMine Reports $14.2 Billion in Holdings Including Major ETH Position
BitMine Immersion Technologies has amassed 3.4 million ETH, now holding 2.8% of Ethereum’s supply, alongside increased cash reserves and diversified assets amid volatile crypto markets.
BitMine Immersion Technologies, chaired by Fundstrat’s Thomas Lee, purchased 82,353 ETH last week worth roughly $306 million, lifting its total ETH holdings to 3.4 million tokens, or 2.8% of the total supply, valued at about $13.3 billion. The firm also increased unencumbered cash reserves to $389 million and maintains positions including 192 BTC and $62 million in Eightco Holdings stock. The combined value of its crypto, cash, and equity stakes now totals $13.7 billion. Lee stated that the company is over halfway toward its goal of acquiring 5% of ETH’s supply. The acquisition comes amid a market downturn and challenges for other digital asset treasuries.
- ETH (Ethereum): A decentralized blockchain platform featuring smart contract functionality, with ETH serving as its native cryptocurrency.
- Supply Percentage: A metric indicating the proportion of a cryptocurrency’s total circulating supply held by an entity or wallet.
- Holdings Disclosure: An official announcement detailing the assets owned by an individual or organization, often for transparency and market analysis.