- BitMine Immersion Technologies now controls over 2% of Ether’s total supply, holding 2.4 million ETH tokens.
- The company’s Ether holdings are valued at about $10.1 billion, making it the largest corporate ETH treasury globally.
- BitMine raised approximately $365 million through a share and warrant sale priced above its recent market value.
- Total assets for the company, including cash, crypto, and equity, stand at $11.4 billion.
- Institutions like Ark Invest have shown interest by acquiring shares, reflecting wider investor focus on crypto treasuries.
BitMine Immersion Technologies, a crypto treasury firm focusing on Bitcoin and Ether, revealed that it holds more than 2% of all Ether in existence. This was announced after the company reached 2.4 million ETH tokens under its control.
BitMine stated on Monday that its current Ether holdings are valued at around $10.1 billion. This makes BitMine the largest corporate holder of Ether. The company also launched a new fundraising initiative designed to increase its reserves.
According to the disclosure, BitMine acquired its ETH at an average price of $4,500 per token. This is about 7.25% higher than the present market value of $4,200. The company noted in a statement that it has raised about $365 million by selling roughly 5.22 million shares at $70 each—representing a 14% premium over the September 19 closing price. The fundraising included 10.4 million warrants, each exercisable at $87.50.
“The convergence of both Wall Street moving onto the blockchain and AI…is creating a supercycle for Ethereum,” said BitMine Chairman Thomas Lee, explaining that the new funds will be used to grow the company’s Ether reserves. Recent ETH purchases include a $200 million buy earlier this month, adding 46,255 ETH, after a previous $65 million acquisition that brought the firm’s share to 1.5% of total Ether supply at the start of September.
Strategic ETH Reserve data shows BitMine has surpassed all other corporate treasuries in ETH ownership, with its portfolio significantly ahead of companies like SharpLink Gaming, which holds 838,150 ETH. Altogether, BitMine reports $11.4 billion in assets, including equity, cash, and cryptocurrencies. For comparison, the leading Bitcoin treasury company, Strategy, holds around 639,835 BTC, valued at more than $74 billion.
Institutional investors have shown interest in the company’s strategic crypto holdings. ARK Invest, led by Cathie Wood, purchased 101,950 shares in BitMine earlier in September. Reports indicate that more public companies are raising large sums to pursue cryptocurrency strategies, highlighting increased investor attention on corporate crypto reserves.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- China Unveils First Licensed Offshore Yuan Stablecoin, axCNH
- Nearly Half of EIP-7702 Ethereum Transactions Linked to Crime
- IREN Doubles AI Cloud Capacity, Stock Jumps 11% on GPU Expansion
- Crypto Markets Crash With $1.7B Liquidated, Rate Cut Hopes Rise
- Gold Surges to $3,719, Up 42% in a Year, Outperforming Stocks
