BitMine Immersion (BMNR) ETH Holdings Exceed 833,000 Tokens, Valued in Excess of $2.9 Billion, and Largest ETH Treasury in World
Rhea-AI Summary
BitMine Immersion Technologies (NYSE AMERICAN: BMNR) has emerged as the world's largest ETH Treasury, amassing 833,137 ETH tokens valued at over $2.9 billion in just 35 days since launching its ETH Treasury strategy. The company has attracted notable investors including Bill Miller III, Cathie Wood, and firms like MOZAYYX, Founders Fund, and Pantera.
Under the leadership of Chairman Tom Lee, BitMine has become one of the most actively traded stocks in the US, with an average daily trading volume of $1.6 billion, ranking 42nd among US-listed stocks. The company aims to acquire 5% of all ETH and plans to implement ETH staking for additional profitability.
Positive
- Accumulated 833,137 ETH valued at $2.9 billion in just 35 days
- Ranks as third-largest crypto treasury globally, behind only Microstrategy and Mara Blockchain
- High trading liquidity with $1.6 billion average daily volume
- Attracted high-profile investors including Bill Miller III and Cathie Wood
- Future revenue potential through planned ETH staking operations
Negative
- Rapid accumulation of ETH exposes company to high cryptocurrency market volatility
- Significant concentration risk with single cryptocurrency (ETH) strategy
News Market Reaction
On the day this news was published, BMNR declined 1.74%, reflecting a mild negative market reaction. Argus tracked a peak move of +2.7% during that session. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $67M from the company's valuation, bringing the market cap to $3.81B at that time.
Data tracked by StockTitan Argus on the day of publication.
BitMine is the largest ETH Treasury in the World
Iconic investor Bill Miller III, senior advisor to Miller Value Partners, takes significant stake in BitMine
Bill Miller III joins a premier group of institutional investors including ARK's Cathie Wood, MOZAYYX, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital to support BitMine's goal of acquiring
BitMine now 42nd most liquid US stock market, trading
BitMine launched its ETH Treasury strategy on June 30th (closing on July 8th). In the ensuing month, the Company has passed many key milestones and is now the largest ETH Treasury in the world and at over
"BitMine moved with lightning speed in its pursuit of the 'alchemy of
BitMine (ticker-BMNR) is now one of the most widely traded stocks in the US. According to data from Fundstrat, the stock has traded average daily dollar volume of
"I am delighted to count iconic growth investor Bill Miller III among our top investors. Bill has embraced our vision of the alchemy of
"I first invested in Microstrategy in late 2020, shortly after Michael Saylor pivoted to a Bitcoin Treasury Strategy. Tom Lee and his team have already shown the resolve to grow shareholder value in the manner following Michael's roadmap. What is intriguing is BitMine is set to be very profitable once the Company turns on ETH staking. In my experience, the best management teams make rational decisions based upon evidence, exhibit independent thinking, and allocate capital with an objective of earning returns above the cost of capital," said Bill Miller III, senior advisor to Miller Value Partners and senior advisor to Patient Capital Management.
The company recently released a corporate presentation, which can be found here: https://bitminetech.io/investor-relations/
To stay informed, please sign up at: https://bitminetech.io/contact-us/
About BitMine
BitMine is a Bitcoin and Ethereum Network Company with a focus on the accumulation of Crypto for long term investment, whether acquired by our Bitcoin mining operations or from the proceeds of capital raising transactions. Company business lines include Bitcoin Mining, synthetic Bitcoin mining through involvement in Bitcoin mining, hashrate as a financial product, offering advisory and mining services to companies interested in earning Bitcoin denominated revenues, and general Bitcoin advisory to public companies. BitMine's operations are located in low-cost energy regions in
For additional details, follow on X:
https://x.com/bitmnr
https://x.com/fundstrat
https://x.com/bmnrintern
Forward Looking Statements
This press release contains statements that constitute "forward-looking statements." The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding progress and achievement of the Company's goals regarding ETH acquisition and staking, the long-term value of Ethereum, continued growth and advancement of the Company's Ethereum treasury strategy and the applicable benefits to the Company. In evaluating these forward-looking statements, you should consider various factors, including BitMine's ability to keep pace with new technology and changing market needs; BitMine's ability to finance its current business, Ethereum treasury operations and proposed future business; the competitive environment of BitMine's business; and the future value of Bitcoin and Ethereum. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond BitMine's control, including those set forth in the Risk Factors section of BitMine's Form 10-K filed with the Securities and Exchange Commission (the "SEC") on April 3, 2025, as well as all other SEC filings, as amended or updated from time to time. Copies of BitMine's filings with the SEC are available on the SEC's website at www.sec.gov. BitMine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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SOURCE BitMine Immersion Technologies, Inc.
FAQ
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