BitMine Immersion Technologies announced its cryptocurrency treasury now stands at roughly $9.2 billion, positioning the miner as one of the largest institutional crypto treasuries outside of MicroStrategy. The company said it holds 2.069 million ETH (about $8.9 billion at current prices), 192 BTC and $266 million in unencumbered cash.
BMNR shifted to an ETH treasury strategy in June and says it aims to accumulate 5% of ether’s total supply. That pivot makes it the world’s largest ether treasury firm, ahead of SharpLink Gaming (SBET), which holds roughly $3.6 billion in ETH according to StrategicETHReserve.
The company also announced a “Moonshot” move: a $20 million investment in Eightco Holdings (OCTO). Eightco plans to hold Worldcoin (WLD) as its primary treasury asset. The funding is part of a reported $270 million PIPE raise, and OCTO shares surged more than 1,000% in pre-market trading.
Why this matters: concentrated institutional accumulation of ETH can influence liquidity and market dynamics, while BMNR’s OCTO bet highlights growing institutional interest in allocating treasury capital to altcoin-focused strategies. Investors and treasury managers should note valuation risk — crypto prices and newly listed equities can swing sharply — and the speculative nature of PIPE-backed moves.
Source: PR Newswire. Read the original coverage for full details.