news.bitcoin.com
Bitmine Immersion has announced that its ethereum holdings now exceed 2.4 million tokens, over 2% of the total ETH supply, bringing its total crypto and cash reserves to $11.4 billion. The company remains the largest ethereum treasury globally and one of the most heavily traded stocks in the U.S.
Bitmine Solidifies Position as World’s Largest ETH Holder With Crypto Reserves at $11.4 Billion
Bitmine Immersion has crossed a major milestone, disclosing that it now holds more than 2.4 million ETH, representing over 2% of ETH’s circulating supply. At current market prices, Bitmine’s ethereum position is valued at $10.9 billion, cementing its role as the world’s largest ETH treasury.
In total, Bitmine reported $11.4 billion in crypto and cash reserves, including 192 BTC, a $175 million stake in Eightco Holdings, and $345 million in unencumbered cash.
The company continues to target what it calls the “alchemy of 5%,” aiming to eventually acquire 5% of the Ethereum network supply. Tom Lee, Chairman of Bitmine, said,
We continue to believe ethereum is one of the biggest macro trades over the next 10-15 years. Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on ethereum.
Bitmine’s growing footprint has also fueled strong equity market activity. The company’s stock is now the 24th most traded in the U.S., with an average daily volume of $3.5 billion.
Backed by high-profile investors such as Cathie Wood’s Ark Invest, Founders Fund, Pantera Capital, Galaxy Digital, and Tom Lee, Bitmine is positioning itself as the dominant corporate force in ethereum.