Bitmine Crypto Treasury Tops $11B After Latest Ethereum Addition

Bitmine Immersion Technologies (NYSE: BMNR) has expanded its cryptocurrency treasury to $11.3 billion after adding 10,399 ETH this week.

The company's total holdings now stand at 5,797,813 ETH, representing 4.8% of Ethereum's total supply, according to Chairman Thomas 'Tom' Lee.

The combined crypto, cash, and venture holdings include a $180 million stake in Beast Industries, a $61 million stake in Eightco Holdings (NASDAQ: ORBS), and $173 million in cash and marketable securities.

Bitmine's total reported holdings fell from $11.8 billion last week to $11.3 billion this week due to the price of ETH falling 3.5% between July 26 and August 2.