Bitmine Stock Jumps As Ethereum Holdings Reach $11 Billion

2025-09-30 10:15:33

(MENAFN- Yolo Wire) The stock of %BitMine Immersion Technologies (NYSE: $BMNR) jumped 6% on news that the crypto acquirer's holdings of %Ethereum (CRYPTO: $ETH) have reached $11 billion U.S.

BitMine reached the $11 billion U.S. mark after purchasing nearly $1 billion U.S. worth of Ethereum over the past week.

The Las Vegas-based company disclosed cryptocurrency and cash holdings of $11.60 billion U.S., including 2.65 million ETH valued at $11 billion U.S.

BitMine also owns 192 %Bitcoin (CRYPTO: $BTC) worth $21.6 million U.S. currently, and $436 million U.S. of cash.

Run by well-known analyst and investor Tom Lee, BitMine is the largest publicly traded Ethereum treasury company.

Overall, BitMine ranks as the second-biggest cryptocurrency treasury company behind Michael Saylor's Strategy (MSTR), which holds $72 billion U.S. worth of Bitcoin.

Lee, who is BitMine's chairman and also runs research firm Fundstrat, has positioned Ethereum as central to converging trends in artificial intelligence (A.I.) and cryptocurrency.

After reaching an all-time high of just under $5,000 U.S., Ethereum's price has fallen in September to currently trade at $4,175 U.S.

BitMine's stock is up 660% this year and trading at $53.22 U.S. per share.

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