Public company BitMine Immersion Technologies (ticker: BMNR) has announced that its Ethereum reserves have surpassed 2.4 million ETH, accounting for more than 2% of the cryptocurrency’s total supply. Including its Bitcoin holdings, venture investments, and cash reserves, the company’s total asset value now stands at $11.4 billion.
BitMine detailed that its balance sheet also includes 192 BTC, $345 million in unencumbered cash, and $175 million in investments dubbed “moonshot” projects. The company remains the largest Ethereum holder among public firms and ranks second in overall crypto reserves, trailing only Michael Saylor’s Strategy.
“We have crossed the 2% threshold of the total ETH supply and are pushing toward our 5% goal. The fusion of Wall Street with blockchain and the rise of a tokenized, AI-driven economy are fueling a supercycle for Ethereum. The scale effect strengthens the position of major ETH holders, which is why we’re committed to increasing our stake,” said BitMine Chairman Tom Lee.
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According to the company, BMNR stock ranks among the most actively traded in the U.S., with an average daily trading volume of $3.5 billion over the past five days. While the stock trades nearly 70% below its July highs, it remains almost ten times higher than levels before the Ethereum reserve initiative began.
