Bitmine Immersion’s Combined Holdings Hit $10 Billion In Crypto, Cash, And ‘Moonshots’ – Here’s The Breakdown

Bitmine Immersion (BMNR) announced on Monday that its combined holdings of crypto, cash, and “moonshot” investments have topped $10 billion.

The company stated that its portfolio comprises 2,151,676 Ethereum (ETH), valued at $4,632 each, 192 Bitcoin (BTC), $214 million in Eightco (ORBS) shares, categorized as “moonshots,” and $569 million in unencumbered cash. The company has accumulated around 82,000 ETH over the last week.

Despite the increase in its cumulative holdings, BMNR’s stock dropped more than 3% after market open on Monday, with retail sentiment on Stocktwits moving to ‘bearish’ from ‘neutral’ territory over the past day. 

Meanwhile, Bitcoin’s price moved 0.5% lower and Ethereum’s price fell 2.4% in the last 24 hours. Retail sentiment around both cryptocurrencies continued to trend in ‘bearish’ territory over the past day. 

“BitMine has nearly $11 billion in total crypto holdings, surpassing the 2 million ETH milestone,” said Tom Lee of Fundstrat, Chairman of BitMine. Bitmine ranks as the largest Ethereum treasury holder globally and the second-largest corporate crypto holder overall, trailing only Michael Saylor-backed Strategy (MSTR), which owns 638,460 BTC worth about $74 billion.

Bitmine announced its pivot to a digital asset treasury (DAT) at the end of June this year, with the company aiming to acquire up to 5% of the total Ethereum supply, which amounts to around 6 million ETH tokens. With around 2 million in its treasury, the company is one-third of the way there.  

BMNR’s stock has gained more than 550% this year and around 400% over the past 12 months.

Read also: Dogecoin, Shiba Inu Slide After $2.4 Million Hack On Shibarium Ripples Through Crypto Market

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