BitMine’s ETH Hoard: 1.86M Coins & $8.98B in Cash! 💸

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Behold, the mighty BitMine Immersion Technologies, a company that trades in both Bitcoin and Ether, as if they were mere trinkets! 🎩💰

According to a Tuesday proclamation, BitMine boasts 1,866,974 Ether-nearly 1.55% of the entire ETH supply, 192 Bitcoin, and a cool $635 million in cash. This totals a staggering $8.98 billion in assets! 🧙‍♂️💰

According to Strategic ETH Reserve data, Bitmine is the titan of corporate Ether treasuries, its holdings valued at over $8.1 billion. The second-place contender, SharpLink Gaming, lags far behind with 797,700 ETH, worth roughly $3.43 billion. 🏆

The market, ever fickle, has seemingly taken a liking to the news, with the stock trading at $44.13… a 1.12% jump on the day. The stock is also up nearly 41% over the last month. A rollercoaster ride, if you ask me! 🎢

BitMine is on a buying spree

BitMine is on a buying spree, snatching up Ether like a pirate plundering a ship. 🏴‍☠️

Last month, Cathie Wood’s ARK Invest dabbled in BitMine, adding $15.6 million in shares, bringing its total investment to over $300 million. A true testament to her confidence, or perhaps her wallet’s generosity! 💸

This follows Fundstrat Global Advisors’ managing partner and BitMine chairman Tom Lee declaring Ether’s price was about to hit rock bottom on Aug. 26. Yet, Ether is still 2.5% lower than that fateful day. A prophecy that missed its mark, perhaps? 🧙‍♂️

Lee’s remarks coincided with BitMine adding 373,000 Ether to its treasury in a single week, even as its shares nosedived 14.2% over the same period. A curious move, indeed! 🤷‍♂️

Ether treasuries are on the rise

Ether treasuries are on a roll, gaining traction faster than a squirrel on a trampoline. Yunfeng Financial Group, tied to Alibaba’s Jack Ma, acquired 10,000 ETH for $44 million. A savvy move, or a gamble? Only time will tell! 🕰️

Today’s reports also reveal that crypto company The Ether Machine secured $654 million in a private financing round, collecting 150,000 Ether from Ethereum advocate Jeffrey Berns. A bold move, indeed, as if they’re building a digital castle in the sky! 🏰

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2025-09-02 18:31