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BitMine Immersion Stock Jumps on Massive Ethereum Holdings Announcement

MarketDash Editorial Team
5 hours ago
BitMine Immersion Technologies shares climbed Monday after revealing it now controls more than 3.2% of the total Ethereum supply, marking significant progress toward its ambitious 5% ownership target.

BitMine Immersion Technologies Inc. (BMNR) shares rallied Monday after the company dropped some impressive numbers about its Ethereum accumulation strategy. BitMine now owns more than 3.2% of the total Ethereum supply, which puts it two-thirds of the way toward what it calls its "Alchemy of 5%" goal.

Let's talk about what that actually means in dollar terms. BitMine reported its combined crypto holdings, cash reserves and "moonshot" investments have hit $13.2 billion. As of December 7, the company was sitting on 3,864,951 ETH, 193 Bitcoin, a $36 million stake in Eightco Holdings Inc. (ORBS), and $1 billion in cash. That's a serious war chest.

Why the Confidence in Ethereum?

"Our stepped up buying activity reflects our confidence that ETH prices should strengthen in the months ahead given multiple catalysts," said Thomas Lee of Fundstrat, who chairs BitMine's board. "The Fusaka upgrade ... activated on Dec. 3rd, delivers an array of improvements in scalability, enhanced security and usability."

Lee pointed to several other factors that could boost crypto prices: the Federal Reserve wrapping up quantitative tightening, a potential interest rate cut on December 10, and the market's recovery more than eight weeks after the October 10 liquidation event that spooked traders.

In its December chairman's message titled "The Crypto Supercycle is Intact," BitMine made a bold prediction about 2026. "The best years are ahead for crypto given the substantial upside to current adoption rates for crypto and given the coming transformation as Wall Street tokenizes everything onto the blockchain."

How Big is BitMine's Position?

With these holdings, BitMine has become the world's largest Ethereum treasury and the second-largest crypto treasury overall. The only company ahead of it? Strategy Inc. (STRF), which owns 650,000 BTC worth $59 billion.

BMNR Price Action: BitMine shares traded up 5.2% at $35.84 at the time of publication. The stock remains 78.1% below its 52-week high and is sitting 19.9% below its 50-day moving average.

Back to News

BitMine Immersion Stock Jumps on Massive Ethereum Holdings Announcement

MarketDash Editorial Team
5 hours ago
BitMine Immersion Technologies shares climbed Monday after revealing it now controls more than 3.2% of the total Ethereum supply, marking significant progress toward its ambitious 5% ownership target.

BitMine Immersion Technologies Inc. (BMNR) shares rallied Monday after the company dropped some impressive numbers about its Ethereum accumulation strategy. BitMine now owns more than 3.2% of the total Ethereum supply, which puts it two-thirds of the way toward what it calls its "Alchemy of 5%" goal.

Let's talk about what that actually means in dollar terms. BitMine reported its combined crypto holdings, cash reserves and "moonshot" investments have hit $13.2 billion. As of December 7, the company was sitting on 3,864,951 ETH, 193 Bitcoin, a $36 million stake in Eightco Holdings Inc. (ORBS), and $1 billion in cash. That's a serious war chest.

Why the Confidence in Ethereum?

"Our stepped up buying activity reflects our confidence that ETH prices should strengthen in the months ahead given multiple catalysts," said Thomas Lee of Fundstrat, who chairs BitMine's board. "The Fusaka upgrade ... activated on Dec. 3rd, delivers an array of improvements in scalability, enhanced security and usability."

Lee pointed to several other factors that could boost crypto prices: the Federal Reserve wrapping up quantitative tightening, a potential interest rate cut on December 10, and the market's recovery more than eight weeks after the October 10 liquidation event that spooked traders.

In its December chairman's message titled "The Crypto Supercycle is Intact," BitMine made a bold prediction about 2026. "The best years are ahead for crypto given the substantial upside to current adoption rates for crypto and given the coming transformation as Wall Street tokenizes everything onto the blockchain."

How Big is BitMine's Position?

With these holdings, BitMine has become the world's largest Ethereum treasury and the second-largest crypto treasury overall. The only company ahead of it? Strategy Inc. (STRF), which owns 650,000 BTC worth $59 billion.

BMNR Price Action: BitMine shares traded up 5.2% at $35.84 at the time of publication. The stock remains 78.1% below its 52-week high and is sitting 19.9% below its 50-day moving average.