What You Need to Know:
- BitMine Immersion Technologies possesses $9.2 billion in cryptocurrencies and cash, establishing itself as the second-largest crypto treasury entity after Strategy (MSTR) with substantial BTC holdings.
- The firm shifted its strategy to focus on an ETH treasury in June, with the goal of acquiring 5% of the entire ether supply, currently recognized as the leading firm in ether treasury.
- Additionally, BitMine has made a $20 million investment in Eightco Holdings (OCTO), which intends to maintain worldcoin (WLD) as its main treasury asset.
Overview
BitMine Immersion Technologies (BMNR) recently disclosed its cryptocurrency holdings, stating that it now manages approximately $9 billion, thus positioning itself as the world’s second-largest crypto treasury company behind Strategy (MSTR).
This development has led to an astonishing 1,000% increase in a stock aimed at accumulating WLD. BMNR’s latest press release reveals that the firm holds 2.069 million ETH, valued at around $8.9 billion at present, along with 192 BTC and $266 million in cash.
With total assets surpassing $9.2 billion, the firm’s transition to an ETH-heavy strategy positions it ahead of competitors like SharpLink Gaming (SBET), which follows with a $3.6 billion ETH treasury.
The company also announced a $20 million investment in Eightco Holdings (OCTO) as part of its “Moonshot” initiative to support innovative projects within Ethereum’s ecosystem. Eightco aims to retain worldcoin (WLD) as its primary treasury asset, supported by its significant capital raise through a PIPE transaction.
This funding has had a profound impact on OCTO’s shares, seeing gains exceeding 1,000% in pre-market trading.
