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Bitmine Immersion adds 33,000 ETH, bringing total crypto and cash holdings above $14 billion
Yahoo Finance· 2026-01-05 14:57
Core Viewpoint - Bitmine Immersion Technologies (BMNR) is actively accumulating ether (ETH) and has reached over 4.14 million ETH, representing approximately 3.43% of the total supply, with a target of 5% [1] Group 1: Company Holdings - The company's total crypto and cash holdings amount to $14.2 billion, which includes $915 million in cash, 192 BTC, and a $25 million stake in Eightco Holdings (ORBS) [1] - Bitmine added nearly 33,000 ETH to its treasury in the past week, as led by Chairman Tom Lee [2] Group 2: Staking and Future Plans - As of January 4, Bitmine has staked 659,219 ETH, valued at approximately $2.1 billion, and plans to launch its in-house validator, the Made in America Validator Network (MAVAN), in early 2026 [3] - If fully staked at current rates, Bitmine projects over $1 million per day in staking rewards based on the current Composite Ether Staking Rate (CESR) of around 2.82% [3] Group 3: Market Performance - BMNR's shares increased by 4.4% in early trading, coinciding with a rise in the price of ether to $3,171 [4]