BitMine Reaches $8.8 Billion in Cryptocurrency Holdings, Exceeding Ethereum Treasury Benchmark

BitMine Immersion Technologies (BitMine) announced a remarkable surge in its cryptocurrency holdings, exceeding $8.8 billion as of August 24th at 5:30 pm ET. The company’s investment strategy is focused on accumulating ETH and has seen significant growth in the past week, surpassing the previous week’s $6.6 billion figure by $2.2 billion. BitMine’s crypto holdings now include 1,713,899 Ethereum tokens at a price of $4,808 per token (based on Bloomberg data) along with 192 Bitcoin and unencumbered cash reserves of $562 million. This places BitMine as the #1 ETH treasury globally and a strong contender in the crypto space.