BitMine Immersion Technology expands its Ethereum treasury to 3% of total supply amid market pressure on digital asset treasuries.
BitMine Immersion Technology announced it acquired 69,822 Ether last week, worth approximately $195 million, bringing its total ETH holdings to 3.63 million tokens, or 3% of the circulating supply. The firm also holds 192 Bitcoin and a small stake in Eightco Holdings, with unencumbered cash reserves climbing to $800 million. Combined crypto, cash, and other investments now total $11.2 billion. Despite a share price rebound of 4.3% pre-market, BMNR remains down 80% from its July peak and faces $4 billion in unrealized losses as Ether prices have dropped nearly 40% since August. Digital asset treasuries broadly face stock prices below net asset values, with many halting asset growth, but BitMine continues to increase its crypto portfolio.