Finance
What to know:
- Amidst the relentless march of time and market tides, BitMine Immersion Technologies (BMNR) clutched another 150,000 ETH to its chest, swelling its treasury to 1.87 million tokens-a hoard now valued at $8.1 billion, with $623 million in cash for… more clutching. 🤞
- The firm’s ETH stash, a digital heirloom, gleams at $8.1 billion, while $623 million hums in the vault like a restless lover awaiting its next tryst. 💸
- BMNR, once basking in mid-August sunbeams, now shivers under a 35% frost as ETH retreats from its gilded peak. ❄️
BitMine Immersion Technologies (BMMR), that valiant Nasdaq-listed digital asset custodian helmed by Fundstrat’s Tom Lee, pressed onward in its crypto crusade as prices waned, a knight charging into a storm. 🛡️
Last week bore witness to the acquisition of 150,000 ETH, a Tuesday press release declaring the firm’s holdings had swelled to 1,866,974 tokens-$8.1 billion in today’s parlance-with $635 million cash reserves, ripe for plucking. 🍑
BMNR, pre-market, lingered at $43, a shadow of its mid-August self, now 35% smaller as ETH’s grandeur dimmed. The cruel irony? Fortune’s wheel spins. 🤡
Since June, BitMine’s pivot to ETH has been a sly fox’s gambit: corner 5% of the second-largest cryptocurrency’s supply, then stake it for yield. A titan among treasuries, it trails only Strategy’s BTC hoard-a mere $71 billion. 🐾
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2025-09-02 16:25