BitMine Immersion raises Ethereum stake to 3.03 million

📌 BitMine Immersion raises Ethereum stake to 3.03 million tokens, $12.9 billion treasury.

BitMine Immersion Technologies (NYSE: $BMNR) announced Monday that its Ethereum (CRYPTO: $ETH) stockpile has surpassed 3.03 million ETH tokens, and the companys total cryptocurrency and cash reserve now stands at about $12.9 billion, confirming an active accumulation policy and making the firm one of the largest publicly traded ETH treasuries. . Eth

– BitMine Immersion Technologies (NYSE: $BMNR) announced Monday that its Ethereum (CRYPTO: $ETH) stockpile has surpassed 3.03 million ETH tokens, and the company’s total cryptocurrency and cash reserve now stands at about $12.9 billion, confirming an active accumulation policy and making the firm one of the largest publicly traded ETH treasuries.

According to the company, the new information indicates a significant increase in its digital reserve since July, when the firm said it had approximately 2.4 million ETH and total reserves of US$11.4 billion. The achievement is seen as part of its Alchemy 5% strategy to buy up to 5% of Ethereum.

BitMine’s shift from a mining model to a treasury model that does not require significant assets has attracted investor interest. Co-founder and CEO Thomas Lee said in a press release that the significant growth in equity stake reflects both interest from institutional investors and the company’s ability to raise capital and quickly invest in ETH. The strategy is based on capital markets, rate yields and reinvesting earnings to increase ETH per share.