BitMine Immersion Technologies, the public ether treasury company led by Fundstrat’s Tom Lee, has significantly expanded its ETH holdings, adding 190,500 tokens last week.
The firm now owns 1,713,899 ETH worth approximately $7.9 billion, alongside $562 million in cash reserved for future acquisitions.
As of late Sunday, the company’s combined crypto and cash reserves hit $8.8 billion at an ETH price of $4,800, up from $6.6 billion the prior week. However, an overnight market downturn pushed ETH below $4,600, trimming valuations.
BitMine’s stock slipped 2.6% in premarket trading after a strong 12% rally Friday. High trading activity has supported its fundraising efforts, with BMNR posting $2.8 billion in average daily volume last week, placing it among the top 20 U.S.-traded stocks, just behind Coinbase.
The company has also filed plans to raise an additional $20 billion through stock sales, underscoring its ambition to remain a dominant ether treasury player.
You need to login in order to Like
Leave a comment