BitMine’s Ethereum Fortune Surpasses 4.8M ETH After Latest Acquisition

BitMine Immersion Technologies, the former bitcoin mining giant turned ETH treasury company, has continued to accumulate more units of the world’s largest altcoin, according to its latest market update.

It reads that the company has added 71,252 ETH for over $152 million in the past week, and its total holdings have increased to 4,803,334 ETH.

Given the asset’s price increase over the past 12 hours to $2,150 as of press time, this puts BitMine’s stash at over $10 billion.

In addition, it owns 198 BTC, a $200 million stake in Mr Beast’s Beast Industries, and a $92 million stake in EightCo Holdings for its ‘moonshots’ portfolio. The company also has cash reserves of $864 million, putting its total holding across all assets over $11.4 billion at current prices.

Separately, BitMine announced that it has been approved for uplisting to the New York Stock Exchange, meaning that its common stock will stop trading on the NYSE American after the closing bell on April 8 and will start trading on the NYSE at the opening on April 9.

The company’s Chairman, Tom Lee, weighed in on the latest news and ETH accumulation, saying that the asset has beaten gold by 1,840bp, which demonstrates that it is the “wartime store of value.”

The post BitMine’s Ethereum Fortune Surpasses 4.8M ETH After Latest Acquisition appeared first on CryptoPotato.