BitMine Says ETH Holdings Reach 4.3 Million Tokens
BitMine Immersion Technologies reported total crypto and cash holdings of $10 billion, anchored by more than 4.3 million ETH and a large staking position.
BitMine Immersion Technologies reported total crypto and cash holdings of $10 billion, anchored by more than 4.3 million ETH and a large staking position.
A sharp decline in Ethereum prices has pushed BitMine Immersion Technologies into roughly $7 billion in unrealized losses, testing its Ethereum-focused treasury strategy.
GameStop moved its entire Bitcoin position to an institutional exchange as CEO Ryan Cohen signaled that acquisitions now outweigh crypto on the company’s balance sheet.
Strive added 334 Bitcoin to its balance sheet and retired most of the debt inherited from its Semler Scientific acquisition, strengthening its treasury position.
BitMine added more than 40,000 Ether to its treasury last week, which marks its largest ETH acquisition of the year following a shareholder vote.
Strategy chairman Michael Saylor pushed back against criticism of companies using equity or debt to add Bitcoin to their balance sheets.
Strategy shares recorded their first six-month losing streak since adopting Bitcoin as a treasury asset in 2020, diverging from past drawdown patterns.