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Bitmine Unveils $11.8 Billion Crypto Treasury, Shares Surge

Guavy AI Editorial Team
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ETH
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Bitmine Immersion Technologies (BMNR) announced an $11.8 billion cryptocurrency treasury, sending its shares soaring by 10.08% to $17.38.

The company's treasury consists of 5,787,414 ETH, with a valuation of approximately $11.3 billion based on the Coinbase reference rate of $1,948 per token.

Bitmine has been expanding its balance sheet through parallel strategies of cryptocurrency acquisition and strategic equity investments, including a $180 million stake in Beast Industries and a $61 million holding in Eightco Holdings.

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