BitMine Immersion (NASDAQ:IMMR) surged 12% in Monday morning trading after revealing that its Ethereum reserves have surpassed 1.15 million tokens, valued at over $4.96 billion—cementing its status as the world’s largest ETH treasury.
The company began its Ethereum treasury program on June 30 and has rapidly scaled its position in just over a month. In the past week alone, BitMine boosted its ETH holdings by roughly $2.0 billion, increasing from 833,137 tokens to more than 1.15 million.
“We are outpacing other crypto treasuries both in the speed of increasing crypto NAV per share and in the high trading liquidity of our stock,” said Thomas “Tom” Lee of Fundstrat, Chairman of BitMine’s Board of Directors.
BitMine now holds the third-largest crypto treasury overall, trailing only MicroStrategy (NASDAQ:MSTR) and Mara Blockchain. Its stock has become one of the most actively traded in the U.S., with an average daily dollar volume of $2.2 billion over the past five sessions—ranking 25th nationally and ahead of companies like JPMorgan and Micron Technology (NASDAQ:MU).
The company has also emerged as the top foreign equity choice among South Korean retail investors, who have poured a net $259 million into BitMine shares since early July, according to data from the Korea Securities Depository.
Ethereum itself climbed to $4,349 on Monday before easing slightly.
BitMine Immersion Technologies stock price
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