BitMine's Ether Treasury Crosses 2.15M, Stake in Worldcoin Vehicle Rises 10-Fold

BitMine Immersion Technologies (BMNR), the digital asset treasury company focused on Ethereum's ether (ETH) and helmed by Fundstrat's Tom Lee, said its crypto, cash and equity holdings hit $10.77 billion.

As of Sunday, the Las Vegas-based firm held 2,151,676 ETH, adding 82,233 tokens to its stash last week, according to a Monday press release. It also held $569 million in unencumbered cash. The ether is worth $9.7 billion at current prices.

Its equity stake in Worldcoin-focused Eightco (OCTO), a new crypto treasury firm centered on iris scanning project Worldcoin (WLD), rose to $214 million. That's more than 10 times the initial $20 million investment, marking BitMine's first bet in a fellow digital asset treasury play what it calls "moonshots."

Since the firm's pivot to ether in June, BitMine has emerged as the second-largest public corporate owner of a cryptocurrency, trailing only pioneer Strategy's $73 billion bitcoin stash.

Treasury firms have been under pressure over the past weeks with some stocks trading below the net asset value of their underlying holdings. Rival Ethereum treasury company Sharplink Gaming, for example, last week bought back equity to lift its share price.

Read more: Corporate Bitcoin Buying Slowed in August as Treasuries Add $5B