BitMine Immersion Technologies, Inc. has announced its Ethereum (ETH) holdings have exceeded $4.96 billion, making it the largest ETH treasury in the world and the third-largest crypto treasury globally. The company’s ETH holdings increased by $2.0 billion to $4.96 billion, marking a significant milestone in its pursuit of acquiring 5% of ETH.
As of August 10th at 10:59pm ET, BitMine’s ETH holdings total 1,150,263 at $4,311 per ETH. This development has propelled the company to become one of the most widely traded stocks in the US, with an average daily dollar volume of $2.2 billion.
BitMine is supported by a premier group of institutional investors, including ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital. These investors aim to support BitMine’s goal of acquiring 5% of ETH and are backing the company’s Ethereum treasury strategy.
The company launched its ETH Treasury strategy on June 30th and has since passed several key milestones. In a statement, Thomas “Tom” Lee of Fundstrat, Chairman of BitMine’s Board of Directors, said that BitMine is leading crypto treasury peers by both velocity and trading liquidity.
Source: https://www.prnewswire.com/news-releases/bitmine-immersion-bmnr-eth-holdings-exceed-1-15-million-tokens-valued-in-excess-of-4-96-billion-and-largest-eth-treasury-in-world-302526216.html