BitMine Immersion Technology Increases Assets to $13.4 Billion – What Factors Are Contributing to the Growth?

BitMine Immersion Technologies, a company engaged in Bitcoin and Ethereum networks with a focus on long-term cryptocurrency accumulation, has reported total assets amounting to $13.4 billion, which includes cryptocurrencies, cash, and equity interests in what it refers to as its “moonshots” portfolio.

In a statement made on October 19 at 6:30 p.m. ET, BitMine detailed that its holdings consist of 3,236,014 ETH, valued at $4,022 per ETH, 192 BTC, a $119 million investment in Eightco Holdings (NASDAQ: ORBS), and $219 million in liquid cash. The company’s expanding balance sheet highlights its increasing position as one of the largest institutional cryptocurrency holders worldwide.

BitMine Becomes the Leading Ethereum Treasury

BitMine is now recognized as the largest Ethereum treasury globally and the second-largest overall cryptocurrency treasury, surpassed only by Strategy Inc. (MSTR), which possesses 640,250 BTC valued at approximately $69 billion. The company’s recent acquisition of 203,826 ETH in the past week has raised its total to 3.24 million ETH—accounting for about 2.7% of the total Ethereum supply.

“The cryptocurrency market experienced one of its most significant deleveraging events last week, exerting downward pressure on ETH prices,” stated Thomas Lee, Chairman of BitMine and Managing Partner at Fundstrat.

“Considering the anticipated supercycle for Ethereum, this price dislocation presents an appealing risk/reward scenario. We are now over halfway toward achieving our target of the ‘alchemy of 5%’ of ETH.”

Regulatory Changes Reflect Financial Milestones

Lee drew comparisons between the current shifts in U.S. policy and the 1971 decision that dismantled the Bretton Woods system, which removed the U.S. dollar’s peg to gold. He observed that the GENIUS Act and the SEC’s Project Crypto could similarly reshape modern finance, establishing the foundation for new digital asset infrastructure akin to the Wall Street modernization that occurred in the 1970s.

“These are catalysts that will shape the next generation of financial leaders,” Lee remarked. “We believe that crypto assets will demonstrate superior long-term investment potential compared to gold—similar to how equities performed after 1971.”

Trading Activity and Institutional Interest

BitMine has also emerged as one of the most actively traded stocks in the U.S., with an average daily dollar volume of $2.1 billion over the last five days, according to Fundstrat data. This positions the company at #33 in U.S. trading activity, situated between Costco and Eli Lilly.

“BitMine continues to draw institutional investor capital due to our high liquidity,” Lee noted. “Alongside MSTR, our combined trading volume accounts for 88% of global DAT trading activity.”

Ethereum Market Dynamics

Ethereum (ETH) is currently trading at $4,037, reflecting a 1.8% increase over the past 24 hours, as the market stabilizes following last week’s deleveraging event. The second-largest cryptocurrency by market capitalization has maintained its position above the critical $4,000 psychological threshold despite recent fluctuations.

In recent months, ETH has varied between $3,200 and $4,800, mirroring broader risk sentiment and liquidity changes in digital assets. Following a sharp decline in early September, ETH found robust support around $3,600 and has since experienced a steady recovery.

On the weekly chart, the current consolidation near the $4,000–$4,100 range indicates potential accumulation, with bullish traders targeting a breakout above the $4,400 resistance to continue the upward trend. A sustained close above that level could pave the way for retesting the yearly high near $4,800, while failing to maintain above $3,800 may lead to additional downward pressure.

Market analysts highlight that institutional ETH accumulation, including BitMine’s recent acquisition of over 203,000 ETH, could bolster medium-term price stability amid expectations of an Ethereum “supercycle” driven by on-chain yield, tokenization, and post-ETF inflows.

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