With $BMNR (+0,63 %) ? There was an announcement from the company today. It may be of interest to some of you here.
LAS VEGAS - BitMine Immersion Technologies (NYSE AMERICAN:BMNR)a company with a market capitalization of 7.29 billion US dollars, whose shares have risen by over 438% since the beginning of the year, announced InvestingPro up over 438% since the beginning of the year, announced on Monday that its combined cryptocurrency and cash holdings have exceeded $9.21 billion. The company now holds more than 2 million Ethereum tokens.
As of September 7, the company's holdings include 2,069,443 ETH worth $4,312 per token, 192 Bitcoin and $266 million in cash, according to a press release.
According to BitMine, it remains the world's largest institutional holder of Ethereum and has the second-largest total cryptocurrency reserves behind Strategy Inc. which holds 636,505 Bitcoin worth around USD 71 billion.
The company also announced a strategic investment of 20 million US dollars in Eightco Holdings Inc. (NASDAQ:OCTO) as part of OCTO's $270 million private placement. This marks the beginning of what BitMine calls its "moonshot" strategy, which aims to allocate around 1% of total assets to investments that support the Ethereum ecosystem. Data from InvestingPro indicate that the company is operating with a moderate level of debt, but is facing profitability issues and has reported negative results over the past twelve months.
"BitMine crossed the 2 million ETH mark last week," said Thomas "Tom" Lee of Fundstrat, Chairman of BitMine, in the press release. "The convergence of two developments - Wall Street's shift to blockchain and the creation of a tokenized economy through AI - is creating a supercycle for Ethereum."
According to data cited in the release, BitMine's stock achieved an average daily trading volume of $1.7 billion in a recent five-day period, making it the 30th-largest U.S.-listed stock by trading volume.
The company operates Bitcoin mining facilities at locations in Trinidad and Texas, pursuing its strategy of accumulating cryptocurrencies as a long-term investment.
In other recent news, Eightco Holdings Inc. has successfully raised approximately USD 270 million through a private placement to implement a treasury strategy for Worldcoin. The transaction included the sale of 171,232,877 common shares with significant participation from MOZAYYX, the World Foundation and Discovery Capital Management. BitMine Immersion Technologies Inc. announced that its crypto and cash holdings have exceeded $8.82 billion, a significant increase from the previous $6.6 billion. BitMine's holdings include a significant amount of Ethereum tokens, Bitcoin and $562 million in unencumbered cash. Additionally, BitMine clarified its listing status on the NYSE American amid a review by NASDAQ and confirmed its ability to issue shares without required shareholder approval. The company also signed employment agreements with key executives, including Jonathan Bates as CEO and Raymond Mow as CFO. At the same time, shares linked to Bitcoin saw a decline as cryptocurrency prices fell.
