In brief
- BitMine Immersion Technologies added $980 million worth of ETH last week, pushing its tally to nearly $11 billion worth.
- BMNR stock is up more than 6% on the day, rising following the announcement.
- Tom Lee’s company holds the largest Ethereum treasury of any publicly traded firm, outpacing SharpLink Gaming.
BitMine Immersion Technologies stock rose Monday morning after the company announced that it purchased nearly $1 billion worth of Ethereum over the last week, pushing the valuation of its total ETH treasury to $11 billion.
The Ethereum treasury firm’s stock rose more than 6% to a recent price of $53.60, following the announcement. Even with the uptick, BMNR remains down nearly 4% over the last week.
The Las Vegas-based company disclosed crypto and cash holdings nearing $11.6 billion, including 2.65 million ETH valued at $11 billion, 192 Bitcoin (about $21.6 million worth), and $436 million in unencumbered cash.
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Author: Andrew Hayward
