BitMine Immersion Technologies (New York American: BMNR) announced that its total cryptocurrency and cash assets were $13.4 billion as of October 5.
The company holds 2.83 million Ethereum tokens, worth approximately $12.8 billion, as well as $456 million in cash and other digital assets.
The Las Vegas-based company owns more than 2% of the total ETH token supply. BitMine also holds 192 Bitcoin tokens and maintains a $113 million stake in Eightco Holdings (ORBS).
According to the company, BitMine is the largest holder of Ethereum in the world and the second-largest holder of the cryptocurrency after MicroStrategy, which holds 640,031 Bitcoin worth $79 billion.
BitMine's daily trading volume averaged $2.5 billion over the five days ending October 3, ranking it 28th among U.S. stocks by trading volume, according to the company, citing research from Fundstrat.
"We remain confident that AI and cryptocurrency remain the two investment themes of the Supercycle," said Thomas Lee, chairman of BitMine and head of Fundstrat. "Because ETH's price represents a discount to future value, this is good for the token and is the reason why BitMine's primary treasury asset is ETH."
The company operates Bitcoin mining facilities in Trinidad, Pecos, Texas, and Silverton, Texas. BitMine focuses on accumulating cryptocurrency for long-term investment through mining operations and capital raising.
According to the company's statement, BitMine's institutional investors include ARK Invest, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital.