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BitMine's Total Assets Reach $13.2 Billion With Over 3.86 Million ETH Holdings
Source: CryptoNewsNet Original Title: Asset Management Company BitMine Announces Cryptocurrencies in Its Portfolio! Here Are Those Coins Original Link: BitMine, a company operating in the field of crypto mining and asset management, announced that its total asset value has reached $13.2 billion.
The company’s crypto assets, cash reserves, and investments form the basis of this total valuation.
According to the statement, as of December 7, BitMine’s crypto portfolio consists of 3,864,951 units of Ethereum (ETH), 193 units of Bitcoin (BTC), and a $36 million share position in a Nasdaq-traded company.
The company’s cash reserves are reportedly around $1 billion. Based on the current ETH price, BitMine’s Ethereum holdings exceed 3.2% of the total supply. Company management states that they aim to increase this ratio to 5% as a medium-term target.
Company leadership announced that they purchased 138,452 ETH last week, representing a 156% increase compared to the average weekly rate of 54,156 ETH four weeks prior.
This aggressive buying strategy demonstrates BitMine’s long-term confidence in the Ethereum ecosystem while strengthening the company’s position as one of the largest institutional accumulators of ETH in the industry.