Bitmine Stock Soars as Company Nears 5% ETH Supply Goal

Bitmine Immersion Technologies' stock price rose by 1.48% to close at $14.36 after reporting $11.1 billion in holdings, including a significant position in Ethereum.

The company's treasury strategy focuses on long-term crypto accumulation and institutional exposure, with its ETH holdings making up the majority of its digital assets.

Bitmine reported holding 5,742,237 ETH, valued at $10.4 billion using an ETH price of $1,800 per coin, as well as 206 Bitcoin and $527 million in cash and marketable securities.

The company's staked Ethereum reached 4,879,157 ETH by July 5, representing about 85% of its total Ethereum holdings, with a value of approximately $8.8 billion using the same ETH price.