BitMine Immersion Technologies Reports $8.8 Billion In Crypto And Cash; Says It Holds Largest ETH Treasury

Bitcoin And Ethereum Network Company BitMine Immersion Technologies (NYSE American: BMNR) reported combined crypto and cash holdings of $8.82 billion as of 24 August, including 1,713,899 ETH priced at $4,808 per ETH (Bloomberg), 192 BTC, and $562 million in unencumbered cash.

The company said it is the largest Ethereum treasury globally and the second-largest overall crypto treasury, behind MicroStrategy (MSTR), which it said holds 629,376 BTC valued at $71 billion. BitMine launched its ETH treasury strategy on 30 June (closing on 8 July).

BitMine’s crypto net asset value (NAV) per share was reported at $39.84 on 24 August, up from $22.84 on 27 July. The company said fully diluted shares outstanding total 221,515,180.

Thomas “Tom” Lee, Chairman Of BitMine (Fundstrat), said the firm has accelerated capital raising while increasing token holdings:

 In the past week, BitMine increased its crypto and cash holdings by $2.2 billion to $8.8 billion (adding over 190,500 tokens from 1.52 million to 1.71 million tokens). This is the second week that BitMine has been able to raise capital from institutional investors at this pace, as we pursue the 'alchemy of 5%' of ETH. At BitMine, we are leading our crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of our stock.

 — Thomas “Tom” Lee, Chairman, BitMine

The company also characterised the GENIUS Act and the SEC’s Project Crypto as catalysts for market structure change in 2025.

 We continue to believe Ethereum is one of the biggest macro trades over the next 10–15 years. Wall Street and AI moving onto the blockchain should lead to a greater transformation of today's financial system. And the majority of this is taking place on Ethereum.

 — Thomas “Tom” Lee, Chairman, BitMine

BitMine said its shares have averaged $2.8 billion in daily dollar trading volume over the past five days to 24 August, ranking #20 in the U.S. by liquidity, citing Fundstrat data, and noted it is behind Coinbase and ahead of JPMorgan and Palo Alto Networks among 5,704 U.S.-listed stocks (Statista and Fundstrat research).

The company said it is supported by a group of institutional investors including ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital, and reiterated a long-term objective of acquiring 5% of ETH. BitMine also referenced a corporate presentation available on its investor relations website.

About BitMine Immersion Technologies

BitMine Immersion Technologies is focused on long-term accumulation of crypto via Bitcoin mining and capital markets activities. Business lines include physical and synthetic Bitcoin mining, hashrate as a financial product, and advisory services to companies seeking Bitcoin-denominated revenues. Operations are based in Trinidad, Pecos, Texas, and Silverton, Texas.

Risk note (editorial): Risk rating: High. Figures cited are company-reported and unaudited; treasury valuations are sensitive to crypto price volatility, liquidity conditions, and accounting assumptions. Statements regarding regulatory initiatives (e.g., GENIUS Act, SEC projects) and market-share goals are forward-looking and subject to change.