BitMine Reports $10.8 Billion Ethereum, Bitcoin, 'Moonshot' Crypto Holdings

Core Insights - BitMine Immersion Technologies Inc has become the world's largest Ethereum treasury company, holding over 2.15 million ETH tokens valued at approximately $10 billion [1][2] - The company's total crypto and cash holdings amount to $10.771 billion as of September 14, which includes 2,151,676 ETH, 192 Bitcoin, $214 million in "moonshot" investments, and $569 million in unencumbered cash [1][2] - BitMine aims to acquire 5% of Ethereum's total supply, leveraging the benefits of large ETH holders [2] Market Context - Digital asset investment products saw inflows of $3.3 billion last week, bringing total assets under management to $239 billion, nearing August's record high [2] - Ethereum experienced a resurgence in investor interest, recording $646 million in inflows after a period of outflows, while Bitcoin attracted $2.4 billion in weekly inflows [3] Strategic Outlook - BitMine's strategy is based on the belief that Wall Street's transition to blockchain infrastructure will predominantly occur on Ethereum, which is viewed as a significant macro trade for the next 10-15 years [4] - The company anticipates that the integration of Wall Street and AI into blockchain will lead to a transformation of the financial system, primarily centered on Ethereum [4]