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Bitmine Discloses $11.6 Billion in Crypto and Cash Holdings
['Kathleen Kinder', 'Written By', 'Reviewed By', 'Barry Elad', 'Tom Lee', 'Chairman', 'Bitmine Immersion Technologies', 'Kathleen Kinder Brings Over Years Of Experience In The Research Industry', 'With Deep Expertise In Finance', 'Cryptocurrency']
CoinLaw
The BriefBitmine’s Ethereum, cash, and side-bet holdings reached $11.6 billion combined as of August 9, including 5,805,238 ETH tokens.
The company bought back 3 million shares in the past week, pushing total buybacks under its $4 billion program past 19.1 million shares since July 1.
That keeps Bitmine the world’s largest Ethereum treasury and the second-largest crypto treasury overall, trailing only Strategy (formerly MicroStrategy), which reportedly holds 842,138 BTC worth about $59 billion, according to the release.
Bitmine’s ETH stack has grown steadily since it disclosed 4.66 million ETH in June and $11.1 billion in total holdings in early July.
Bitmine has staked 5,067,309 ETH, worth $9.8 billion at the same $1,928 price, through MAVAN, its Ethereum staking platform.