Bitmine Treasury Surpasses $11 Billion with Ethereum Holdings

Bitmine's treasury has grown to $11.6 billion as of August 9, including its Ethereum holdings worth over $5.8 billion. The company disclosed this figure in a recent press release filed with the Securities and Exchange Commission.

The total also includes cash and marketable securities valued at $104 million, as well as stakes in Beast Industries and Eightco Holdings Inc., worth $180 million and $69 million respectively. Bitmine's Ethereum holdings equal 4.8% of the circulating supply.

Bitmine has been steadily increasing its ETH stack since June, with the current total surpassing $11 billion. The company has also repurchased over 19 million shares under its $4 billion program, which has been cited as undervalued by Chairman Thomas 'Tom' Lee.