Bitmine Boasts $11.6B Crypto Stash, but Let’s Be Real, Who’s Counting?

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Bitmine says, “Hey, we have over 2.65 million ethereum and $11.6 billion in crypto and cash, no big deal.” 😎

Bitmine: $11.6B in Total Holdings, 192 Bitcoin, 2.65M ETH, and Cash… Yeah, Right!

So, here’s the deal: As of Sept. 28 at 7 p.m. Eastern, Bitmine (NYSE: BMNR) reported they hold a casual 2,650,900 ethereum (ETH) valued at $4,141 per token (thanks, Bloomberg), 192 bitcoin, $436 million in cold, hard cash, and a cute $157 million equity stake in Eightco Holdings. Add it all up and voila, $11.6 billion. 🎉

Now, the company says its ethereum stash is more than 2% of the token’s supply, with big plans to reach 5%. Tom Lee, the guy behind Fundstrat (yeah, him), chimes in and says, “Ethereum’s our thing.” Sure, Tom. 😏

Oh, and by the way, Bitmine claims it’s the largest ethereum treasury in the world-next to Strategy Inc. (MSTR), which holds a modest 639,835 bitcoin valued at $71 billion. Totally no competition. But hey, no word on how much they actually paid for all that ether or bitcoin. Classic move. 🤷‍♂️

Let’s not forget the stock trading madness. BMNR was the 26th most-traded U.S. stock by dollar volume, with $2.6 billion trading daily as of Sept. 26. Yeah, just a little behind Marvell Technology and slightly ahead of Visa. No biggie. 💸

Despite all this, there’s no concrete timeline for hitting that 5% target or any other financing plans. Figures were presented without an audit. But who needs one, right? After the news dropped, BMNR was trading at $52.21 per share, up over 3% on Monday. 🤑

Bitmine’s all about Ethereum, long-term digital asset accumulation, and claiming to be number one. They say their rankings are based on internal math-sounds legit, huh? And just below them in ETH holdings is Sharplink, with a mere 838,730 ether. Big whoop. They’re about 1.8 million ETH short of Bitmine, but hey, better luck next time. 😬

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2025-09-29 22:09