Shares of BitMine Immersion Technologies Inc. (NASDAQ: BMNR) are trading higher. The crypto treasury company on Monday provided an update on its cryptocurrency holdings.
What To Know: BitMine said it now owns more than 2% of the total Ethereum (CRYPTO: ETH) supply. The total value of its holdings, which includes cryptocurrency, cash and “moonshot” holdings, is now up to $11.6 billion.
As of Sunday, the company’s total crypto holdings were comprised of approximately 2.65 million ETH, 192 Bitcoin, $157 million invested in Eightco Holdings and $436 million of total cash.
“As we enter the final months of 2025, the two Supercycle investing narratives remain AI and crypto. And both require neutral public blockchains,” said Fundstrat’s Tom Lee, chairman of BitMine.
“Naturally, Ethereum remains the premier choice given its high reliability and 100% uptime. These two powerful macro cycles will play out over decades. Since ETH’s price is a discount to the future, this bodes well for the token and is the reason BitMine’s primary treasury asset is ETH.”
Bitmine’s stock traded as high as $54.60 on Monday before pulling back, according to Benzinga Pro.
BitMine argued on Monday that the GENIUS Act and the SEC’s Project Crypto are as transformational to financial services now as U.S. action ending Bretton Woods and the USD on the gold standard 54 years ago.
“We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years,” Lee said.
BitMine shares also appear to be getting a boost on Monday from broader strength across crypto markets. As crypto markets rise, the value of BitMine’s underlying crypto holdings increases, impacting profitability. Ethereum was up about 3% over a 24-hour period at last check, trading around $4,163 at publication time.
BMNR Price Action: Bitmine shares were up 4.75%, trading at $52.80 at the time of publication on Monday, according to Benzinga Pro.
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