Bitmine's Crypto Holdings Reach $11.3 Billion

Bitmine Immersion Technologies (BMNR) has announced that its total crypto and cash holdings now stand at $11.3 billion, with a significant portion of this being in Ethereum (ETH).

The company owns 5.8 million ETH tokens, representing 4.8% of the total ETH supply, which is valued at approximately $9.2 billion at current market prices.

Bitmine's crypto holdings are managed through its institutional-grade staking platform, MAVAN (Made in America VAlidator Network), which was launched earlier this year and has already attracted a significant amount of interest from institutional investors.

In addition to its ETH holdings, Bitmine also owns $61 million worth of Eightco (NASDAQ: ORBS) stock, which provides indirect exposure to OpenAI.