The crypto treasury firm added 7,391 ETH to its portfolio, lifting total assets to $11.6 billion amid declining cash levels.
Bitmine Immersion Technologies increased its Ethereum holdings by 7,391 ETH, valued at $14 million, bringing its total ETH stack to 5.8 million tokens. The purchase follows a $104 million decline in cash reserves over the past month, now standing at $104 million.
Total assets rose to $11.6 billion from $11.3 billion, driven largely by a 2.6% weekly gain in ETH prices to $1,928. The firm’s staked ETH now covers 87% of its holdings, generating an annualized staking revenue projection of $257 million.
Bitmine also repurchased 3 million shares under a $4 billion authorization, citing undervaluation. Holdings include 209 Bitcoin and stakes in Beast Industries and Eightco Holdings.