BitMine Crypto + Cash Holdings Exceed $8.8 billion, including 1.71 million ETH Tokens
BitMine Immersion Technologies (“BitMine” or the “Company”) announced crypto + cash holdings exceeding $8.82 billion. As of August 24th at 5:30pm ET, the Company’s crypto holdings are comprised of 1,713,899 ETH at $4,808 per ETH (Bloomberg), 192 Bitcoin (BTC) and unencumbered cash of $562 million.
BitMine crypto holdings reigns as the #1 Ethereum treasury and #2 global treasury, behind Strategy Inc (MSTR), which owns 629,376 BTC valued at $71 billion.
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BitMine remains the largest ETH treasury in the world. BitMine launched its ETH Treasury strategy on June 30th (closing on July 8th). In the ensuing six weeks, the Company has passed many key milestones.
“In the past week, BitMine increased its crypto and cash holdings by $2.2 billion to $8.8 billion (adding over 190,500 tokens from 1.52 million to 1.71 million tokens). This is the second week that BitMine has been able to raise capital from institutional investors at this pace, as we pursue the ‘alchemy of 5%’ of ETH,” said Thomas “Tom” Lee of Fundstrat, Chairman of BitMine. “At BitMine, we are leading our crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of our stock.”
The crypto + cash NAV (net asset value) per share is $39.84. This figure was $22.84 on July 27th. Crypto NAV is calculated as crypto and cash asset value divided by fully diluted shares outstanding. BitMine fully diluted shares outstanding is 221,515,180.
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The GENIUS Act and SEC’s Project Crypto are as transformational to financial services in 2025 as US action on August 15, 1971 ending Bretton Woods and the USD on the gold standard 54 years ago. This 1971 event was the catalyst for the modernization of Wall Street, creating the iconic Wall Street titans and financial and payment rails of today. These proved to be better investments than gold.
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“We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years,” continued Lee. “Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum.”
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Source: prnewswire