Bitmine Immersion Technologies Announces $15.8 Billion Crypto Holdings

Bitmine Immersion Technologies, Inc. (BMNR) has announced its Ethereum holdings have reached 5.96 million tokens, representing a significant milestone in its long-term investment strategy.

The company's total crypto and cash holdings now stand at $15.8 billion, with the majority comprised of ETH at an average price of $2,513 per token.

Bitmine owns approximately 4.9% of the total ETH coin supply, which is valued at around $12.7 billion based on current market prices.

The company's Chairman, Tom Lee, believes that Ethereum's strengthened position as a settlement rail for Wall Street tokenization and its potential role in managing agentic-AI are driving factors behind the price increase.

Lee noted that the ETH/BTC ratio has moved up significantly since January 30th of this year, establishing a new uptrend and breaking the trendline in place since the COVID-19 highs.