Bitmine Reaches $10.7 Billion Crypto Holdings Milestone

Bitmine Immersion Technologies (BMNR), a Bitcoin and Ethereum Network company, announced its crypto holdings have reached $10.7 billion. This includes 5.67 million ETH tokens, total cash & marketable securities of $601 million, and other crypto holdings.

The company's ETH holdings are comprised of 5,672,956 ETH at $1,733 per ETH (per Coinbase NASDAQ: COIN), with a total value of $8.2 billion. Bitmine owns 4.7% of the total ETH coin supply of 120.7 million.

'The best years for crypto remain ahead, in our view,' stated Thomas 'Tom' Lee, Chairman of Bitmine. He added that at scale (when Bitmine's ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $268 million on an annualized basis.