In what can only be described as a magnificent display of digital wealth, Bitmine Immersion Technologies has casually announced that it now sports over $6.6 billion in cryptocurrency. Because why not? Who needs antique coins when you can have digital dragons? 🐉💸
Bitmine’s Ether hoard: a chocolate-fueled dream of $6.6 billion
Their stash includes a mighty 1,523,373 ETH tokens, each grazing on the tender age of $4,326. Meanwhile, there are also 192 bitcoin (BTC)-enough to make even Satoshi do a double-take. All in all, the total is a cool $6.612 billion as of August 17, up by a spicy $1.7 billion from just the week before. It’s now the second-largest crypto treasury-right behind Strategy’s staggering $72 billion bitcoin unicorn. Who knew that the digital gold rush would look like this? 🤑
Important to note: Bitmine (NYSE: BMNR) kicked off its ETH accumulation plan on June 30 – because when you want a mountain of digital coins, waiting is just not an option. In just six weeks, it gobbled up 373,000 ETH tokens, backed by a constellation of institutional investors like Ark Invest, Founders Fund, and Galaxy Digital. These big guns are aiming for a modest 5% slice of all ETH, because who doesn’t love a good pie? 🥧
The company’s stock (BMNR) is quite the celebrity, with around $6.4 billion traded daily-making it the 10th most liquid U.S. equity. It’s outpacing giants like JPMorgan (#27) and Alphabet (#11), proving once again that in the world of stocks, liquidity is king. 💧📈
Chairman Tom Lee praises Bitmine’s “alchemy of 5%” strategy-because turning digital lead into gold is all in a day’s work-and celebrates the skyrocketing crypto NAV per share. He also tosses in a bold prediction:
“Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum.”
As if the future wasn’t already complicated enough, Lee compares current crypto regulatory shifts-like the GENIUS Act and SEC shenanigans-to the 1971 Bretton Woods shake-up, hinting at a market overhaul akin to the industrial revolution. With liquidity and treasury size like that, Bitmine might just be the crypto version of a giant squid-massive, mysterious, and surprisingly agile amid all the chaos. 🦑💥
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2025-08-18 22:57