Bitmine Immersion Technologies Reveals $17B Crypto Holdings and 6M ETH
Bitmine Immersion Technologies (BMNR) has disclosed its significant holdings in Ethereum and other assets. The company holds 6,001,302 ETH, which is approximately 4.9% of the total Ethereum supply.
The large concentration of ETH ties BMNR's equity value to the price and liquidity of Ethereum. This concentration is nearing 5%, a target mentioned by the company.
BMNR also holds $17.2 billion in combined crypto, cash, marketable securities, and 'moonshots.' The majority of this total holdings comes from its ETH stash, which skews the asset mix towards Ethereum and increases the crypto beta.