BitMine Buys 45,759 ETH to Boost $8.68B Treasury Despite $7.9B Underwater
BitMine Immersion bought 45,759 ETH last week, raising its total to 4.37 million ETH valued at $8.68 billion while sitting $7.9 billion underwater. The firm holds 193 Bitcoin, $670 million cash and has invested $200 million in Beast Industries, plus saw Ark Invest buy $4 million of its shares.
1. Major Ethereum Purchase
BitMine Immersion acquired 45,759 ETH last week, increasing its total holdings to 4.37 million ETH worth $8.68 billion, even as those assets sit $7.9 billion below cost.
2. Asset Portfolio and Investments
Beyond Ethereum, the firm holds 193 Bitcoin valued at roughly $13 million and $670 million in cash, has deployed $200 million into Beast Industries, and invested $17 million in Eightco Holdings for exposure to Worldcoin.
3. Institutional Interest Sparks Confidence
Ark Invest’s $4 million purchase of BitMine shares via its ARKF ETF signals growing institutional support, potentially helping to offset current market skepticism around its underwater crypto positions.