Bitmine Immersion Technologies says its total crypto and cash reserves have reached $13.2 billion after ramping up its ethereum stash to 3.5 million tokens.
Bitmine Boosts ETH Treasury by 110K Tokens, Adds $398M in Cash
Immersion Technologies (NYSE American: ) revealed on Nov. 10 that it now holds 3,505,723 ethereum ( ETH) valued at $3,639 per token, alongside 192 bitcoin and $398 million in unencumbered cash.
The company also reported a $61 million “moonshot” investment in Eightco Holdings (Nasdaq: ), according to a press release shared via PR Newswire.
Chairman of Fundstrat said Bitmine boosted its ethereum holdings by 110,288 tokens this week—an increase of 34% over the prior week—bringing its share of the total supply to 2.9%. “We’re now more than halfway toward the ‘alchemy of 5%’ goal,” Lee said. He added that the firm took advantage of a dip in prices to expand its position while raising its cash reserves.
Bitmine’s position makes it the world’s largest treasury and second-largest overall crypto treasury, trailing only Strategy Inc. (MSTR), which holds roughly 641,205 worth about $67 billion. The company’s growing balance sheet underscores its aggressive approach to digital asset accumulation, positioning itself as a major player in decentralized finance (defi) infrastructure and treasury management.
Lee said Bitmine and the Ethereum Foundation recently hosted a summit at the New York Stock Exchange, drawing interest from major financial institutions exploring asset tokenization. He described as a “super cycle story” over the next decade, citing parallels between blockchain innovation and the post–Bretton Woods modernization of Wall Street in the 1970s.
Fundstrat data show Bitmine is now one of the most traded U.S. equities, ranking 48th with an average daily dollar volume of $1.6 billion. That places it just behind Lam Research and ahead of Arista Networks among more than 5,700 publicly listed stocks.
Lee noted that despite October’s crypto deleveraging event, institutional demand remains strong. Bitmine and collectively account for 88% of all global digital asset treasury (DAT) trading volume, with Bitmine leading peers in net asset value (NAV) growth and stock liquidity.
FAQ ❓
- What did Bitmine announce about its crypto holdings? Bitmine reported $13.2 billion in total crypto and cash assets, including 3.5 million ethereum.
- How much of the ethereum supply does Bitmine own? The company holds about 2.9% of all ethereum in circulation.
- Who leads Bitmine Immersion Technologies? Fundstrat’s Thomas “Tom” Lee serves as chairman of Bitmine.
- Which firms are major investors in Bitmine? Backers include ARK’s Cathie Wood, Founders Fund, Pantera, and Galaxy Digital.
Author: Jamie Redman
Source: Bitcoin
Reviewed By: Editorial Team
