Bitmine Surpasses $12 Billion in Ethereum Holdings
Bitmine Immersion Technologies (BMNR) has announced its Ethereum holdings have surpassed 5.39 million tokens, representing approximately 4.47% of the total ETH supply of 120.7 million.
The company's total crypto and cash holdings now total $12.3 billion, including $444 million in cash and a stake in Eightco (NASDAQ: ORBS) worth $95 million.
Bitmine's Chairman, Thomas 'Tom' Lee, stated that the recent pullback of ETH to below $2,200 is an attractive opportunity for acquisition, with the goal of reaching the 'Alchemy of 5%' by the end of 2026.
The company has also launched MAVAN (Made in America VAlidator Network), a premier Ethereum staking destination for institutional investors and custodians, which aims to provide best-in-class staking infrastructure.