BitMine Immersion Technologies Inc. (NYSE:BMNR) stock rose nearly 5% Tuesday after the company updated investors on its Ethereum (CRYPTO: ETH) treasury strategy.
Ethereum Holdings Reach 5.85 Million Tokens
BitMine said its Ethereum holdings reached 5.85 million tokens. Its crypto assets, cash, marketable securities and "moonshot" investments totaled $14.9 billion.
That figure included $308 million in cash and marketable securities. BitMine held 5.07 million staked Ethereum tokens. The company valued those tokens at $12.4 billion, based on an Ethereum price of $2,440.
BitMine said it had completed 97% of its "Alchemy of 5%" goal. The strategy aims to acquire 5% of Ethereum’s circulating supply.
