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BitMine Immersion Technologies announced total cryptocurrency and cash assets of $10.771 billion as of September 14.
BitMine Immersion Technologies (New York American: BMNR) announced total cryptocurrency and cash assets of $10.771 billion as of 1 a.m. Sept. 14, according to a company press release.
The assets include 2,151,676 Ethereum (ETH) tokens worth $4,632 per ETH based on Bloomberg prices, 192 Bitcoin, a stake in Eightco (ORBS) worth $214 million, and $569 million in available cash.
The company said it holds the world’s largest ETH treasury, ranking second among global crypto treasuries behind MicroStrategy (MSTR), which holds 638,460 Bitcoin worth $74 billion.
BitMine’s average daily trading volume was $2.0 billion over the five days ending Sept. 12, ranking it 28th among U.S.-listed stocks, according to Fundstrat data cited in a press release.
“BitMine holds nearly $11 billion in total crypto assets, surpassing the 2 million ETH mark,” said Fundstrat’s Thomas Lee, who serves as BitMine’s chairman. Lee tied the company’s strategy to what he described as an “ethereum supercycle” driven by Wall Street’s adoption of blockchain technology and the creation of a token economy powered by artificial intelligence.
According to the announcement, the company's institutional investors include Cathie Wood of ARK, Founders Fund, Pantera, and Galaxy Digital. BitMine has stated its goal is to acquire 5% of all ETH tokens.
BitMine operates Bitcoin mining facilities in Trinidad, Pecos, Texas, and Silverton, Texas, focusing on accumulating cryptocurrency for long-term investment through mining operations and capital raising activities.