Bitmine Immersion Technologies (BMNR), the Ethereum-focused digital asset tax company led by Fundstrat’s Thomas Lee, continued to buy ether Adding 179,251 tokens to its balance through last week, to a value of approx. $ 820 million at current prices.
With the latest purchase, the company’s ETH Stash surpassed 2.83 million tokens, more than 2% of the second largest cryptocurrency’s supply, according to a press release on Monday.
Shares have risen by 4% Premarket along with the weekend winnings in crypto prices.
The company said the total crypto and cash reserves are $ 13.4 billion, including $ 456 million cash, 192 Bitcoin and an effort in Eightco Holdings (Orbs), a digitally active vehicle vehicle that focuses on .
The BMNR share rose 4.3% before the market at just over $ 59, its strongest level in two weeks.
Since the company’s June-Pivot, Bitmine is part of the digital active treasury trend, where public traded companies raise money to accumulate cryptocurrencies after the Playbook for Michael Saylor’s strategy, the world’s largest company’s Bitcoin owner.
Bitmine aims to corner 5% of Ether’s supply and generate yield by putting tokens. The company is currently ranking the largest listed ETH Treasury company and spores only the Bitcoin-focused strategy BTC holdings among all crypto-tax companies.
“We are still sure that the two super bike investment narratives remain [artificial intelligence] AI and Crypto, “said President Thomas Lee in a statement.” Since ETH’s price is a discount on the future, this is good for the token and is the reason why Bitmin’s primary treasury is eth. “
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