Bitmine Surpasses 4.8% ETH Supply Share with $11.3 Billion Holdings
Bitmine Immersion Technologies (BMNR) has announced its Ethereum holdings have reached 5.8 million tokens, representing approximately 4.8% of the total ETH supply.
The company's crypto and cash holdings now total $11.3 billion, with $9.2 billion attributed to staked ETH alone.
Bitmine's Chairman, Thomas 'Tom' Lee, stated that July saw ETH outperform the Nasdaq 100 by a significant margin of 2,500 basis points, indicating strengthening fundamentals in crypto.