Finance
What You Absolutely Have to Know:
- BitMine Immersion Technologies snatched up 179,251 ether last week – that’s over $820 million worth, by the way. 🙄
- The firm now boasts a jaw-dropping $13.4 billion stash, including $456 million in cash, 192 bitcoin, and a stake in some mysterious Worldcoin-focused treasure chest. 💰
- Oh, and by the way, BitMine’s aiming to snatch 5% of all ether. It’s the second-largest crypto treasury, only trailing Strategy. No big deal. 😎
Well, well, well. BitMine Immersion Technologies (BMNR), the Ethereum-loving treasure hoarder run by Thomas Lee from Fundstrat, decided to do something interesting – add a whopping 179,251 tokens to their crypto horde last week. That’s $820 million in ether. I bet you didn’t see that coming. 😏
With that juicy purchase, BitMine now holds over 2.83 million ether. That’s more than 2% of all the ether floating around in the crypto ocean. Yes, you heard that right – 2% of the second-largest cryptocurrency. And the best part? They’re still buying. 🛒
Hold your horses because the shares are up a nice 4% premarket. Looks like crypto’s weekend party has spilled into Monday morning. 🎉
All in all, BitMine is sitting pretty with $13.4 billion in total crypto and cash reserves. That’s $456 million in cash, 192 bitcoin, and a chunk of Eightco Holdings (ORBS), whatever that is. Someone must have told them “the more, the better.” 😜
BMNR stock is flexing at $59, marking a 4.3% increase pre-market. It’s their best showing in two weeks. Go ahead and check your wallets, it’s looking good. 💸
BitMine, since its dramatic June U-turn, is joining the growing club of publicly traded firms raising funds to load up on cryptos. They’re following the lead of Michael Saylor’s Strategy, which is the biggest corporate bitcoin hoarder on the planet. You know, no big deal. 🚀
The grand plan? BitMine wants to lock down 5% of the ether supply and, wait for it, make money by staking those tokens. Meanwhile, they’ve already snagged the top spot for ETH treasury firms, only trailing the bitcoin-heavy Strategy in terms of crypto holdings. Someone’s got their eyes on the prize. 👀
“We’re still riding high on the AI and crypto supercycle,” said Thomas Lee, Chairman of the Big Treasure Hunt. “Since ETH’s price is a bargain compared to what’s coming, we’re all in.” I mean, can you blame him? Who wouldn’t want to scoop up some discount ether? 💁♂️
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2025-10-06 18:18