Bitmine Immersion Tech Holds $11.8B in Crypto and Cash, Including 5.79M ETH

Bitmine Immersion Technologies has announced its significant crypto and cash holdings, totaling $11.8 billion. The company holds 5.79 million ETH (4.8% of the total supply), valued at $1,948 per ETH, as part of its overall crypto and cash holdings.

The majority of these ETH are staked, with 4.92 million (85% of holdings) generating around $9.6 billion in value. This is expected to project annualized staking revenue of approximately $254 million.

In addition to its crypto holdings, the company has also repurchased a significant number of shares under its $4 billion buyback program. Since July 1, Bitmine Immersion Technologies has repurchased 11.6 million shares.