Bitmine Reaches Ethereum Holdings Milestone as Crypto Equities Outperform Russell 1000
Bitmine Immersion Technologies (BMNR) has announced that its Ethereum holdings have reached 5.93 million tokens, representing $12.6 billion at $2,495 per ETH. This is a significant milestone for the company, which aims to acquire 5% of the total ETH supply.
The company's crypto and cash holdings now total $15.7 billion, with its common stock gaining 99% in the quarter, making it the fourth-best performer among the Russell 1000. Bitmine is also a major contributor to the index, as four out of the top 21 best-performing stocks are crypto-related equities.
According to Thomas 'Tom' Lee, Chairman of Bitmine, 'Fund managers benchmarked to the Russell 1000 need to consider whether they have sufficient exposure to crypto given this group's outsized contribution to Russell 1000 gains this quarter.'