$BitMine Immersion Technologies Inc.(BMNR)$ $Grayscale Ethereum Mini Trust ETF(ETH)$ $T-REX BMNR(BMNU)$
Massive ETF Inflows Continue! 📰
On Oct. 8, spot ETFs scooped up around $440.7M worth of BTC$BTC and $69.1M worth of ETH$ETH, signaling strong institutional appetite once again.
Big money isn’t slowing down, it’s accumulating! 🫳
BitMine Immersion Technologies (BMNR) added 23,823 ETH, worth $103.7 million, to its corporate Ethereum treasury on Thursday.
Citing data from Arkham, Lookonchain reported that the company received the ETH from a BitGo wallet through the address "0xF8c … 338E7." While the wallet is unmarked on Arkham, Lookonchain identified the wallet as Bitmine's.
BitMine has not confirmed the reported acquisition. The Block has reached out to BitMine for confirmation.
Officially, Bitmine holds 2.83 million ETH, which is worth around $12.4 billion. The treasury firm, led by Fundstrat co-founder Tom Lee, is currently the largest ETH treasury and the second-largest crypto treasury, behind Michael Saylor's Strategy.
Bitmine has stated on multiple occasions that it aims to accumulate 5% of Ethereum's total supply and is committed to supporting Ethereum's growing role in financial market services.
BMNR traded down 1.5% on Thursday, closing markets at $59.10. Ethereum is also down 1.4% over the past 24 hours, trading at $4,384, according to The Block's ETH price page.
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- Valerie Archibald·10-10Why would they say BMNR is selling at a premium relative to its ETH holding? Considering the float, BMNR is in fact priced at a discount. The higher outstanding share would translate into ETH’s when floated. Is this wrong?LikeReport
- Astrid Stephen·10-11BMNR adds $103M ETH! Largest ETH treasury = buy BMNR now!LikeReport
- Venus Reade·10-10What is really the premium in the stock price over ethereum . I thought we are almost trading at par valueLikeReport
- jazzyco·10-10Strong accumulation! 👍LikeReport
- catandbull·10-10Big money risingLikeReport