BitMine’s Ethereum holdings have climbed past 4.8 million ETH following its most recent purchase, pushing the company’s total assets beyond 11.5 billion dollars across crypto, cash, and high risk investments at current market values.
Formerly known as a major Bitcoin mining firm, BitMine Immersion Technologies has continued its shift toward building a large Ethereum treasury. In its latest update, the company revealed it acquired an additional 71,252 ETH over the past week at a cost exceeding 152 million dollars. This brings its total Ethereum holdings to 4,803,334 ETH.
With Ethereum rising to about 2,150 dollars recently, the company’s ETH alone is now valued at more than 10 billion dollars.
Beyond Ethereum, BitMine also holds 198 Bitcoin, a 200 million dollar stake in Mr Beast’s Beast Industries, and a 92 million dollar position in EightCo Holdings as part of its speculative investment portfolio. It also maintains cash reserves of 864 million dollars, bringing the combined value of all its assets to over 11.4 billion dollars at current prices.
In a separate development, the company announced it has received approval to move its listing to the New York Stock Exchange. Its shares will stop trading on NYSE American after the market closes on April 8 and will begin trading on the NYSE when markets open on April 9.
Chairman Tom Lee commented on the company’s Ethereum strategy and broader market trends, noting that Ethereum has outperformed gold by 1,840 basis points, reinforcing his view of it as a reliable store of value during times of conflict.
He pointed out that the Iran war has entered its sixth week and continues to play a major role in shaping global markets. Since the conflict began, Ethereum has delivered a 6.8 percent gain, making it the second best performing asset and placing it well ahead of the S&P 500 by 1,130 basis points.
Lee also emphasized that Ethereum is benefiting from two major trends: increasing adoption of blockchain tokenization by traditional finance institutions and growing demand from AI systems that rely on open and neutral blockchain infrastructure.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
