Tom Lee’s BitMine Immersion (BMNR) crypto treasury company has revealed a balance sheet of more than $10.7 billion, including more than 2 million Ethereum (ETH).
According to a new announcement, BitMine’s largest holding is 2,151,676 Ethereum worth about $9.7 billion at its current value.
[adinserter block="1"]The company also holds 192 Bitcoin (BTC), worth more than $22 million at time of writing.
Other holdings include $569 million of unencumbered cash and a $214 million stake in crypto treasury Eightco Holdings (ORBS), which represents one of the firm’s “moonshots,” an investment strategy to support projects in the Ethereum ecosystem.
Eightco Holdings announced this month that it will raise approximately $270 million to fund what the company calls the first treasury strategy focused on Sam Altman’s Worldcoin (WLD), an Ethereum-based cryptocurrency.
Says Lee, BitMine’s chairman,
“BitMine has nearly $11 billion in total crypto holdings, surpassing the 2 million ETH milestone…
We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years. Wall Street and AI (artificial intelligence) 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.”
BitMine remains the largest ETH treasury in the world.
Lee previously said that Ethereum could enter an intense bull market driven by sustained fundamentals and increasing adoption with the passage of the GENIUS Act, a law designed to regulate and support the stablecoin market.
He believes that institutions and large financial firms will leverage Ethereum’s smart contract capabilities to tokenize every asset available, leading to the massive adoption of ETH.
ETH is trading for $4,488 at time of writing, down 2.3% in the last 24 hours. Meanwhile, Bitcoin is trading for $114,769 at time of writing, down marginally at time of writing.
Worldcoin is trading for $1.49 at time of writing, down 7.3% on the day.
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