Movement Alert|BITMINE IMMERSION TECNOLOGIES INC Rises 7.23% in Regular Trading, ETH Holdings Reach 5.98 Million Tokens Nearing 5% Supply Target

Market Focus
Sep 21

On September 21, BITMINE IMMERSION TECNOLOGIES INC rose 7.23% in regular trading, trading at $27.47/share with turnover of $262 million. The rally was driven by the company's latest disclosure showing its Ethereum holdings reached 5,983,940 tokens, representing 4.9% of total ETH supply.

According to the company's announcement, BITMINE IMMERSION TECNOLOGIES INC purchased 27,562 ETH over the past week, continuing its aggressive accumulation strategy launched in June of last year. Combined with 212 BTC and cash reserves, total crypto and cash holdings now stand at approximately $17.1 billion. Chairman Tom Lee stated the company has achieved 98% of its target to hold 5% of total Ethereum supply. Approximately 87% of the ETH portfolio is staked, generating an estimated $330 million in annualized staking revenue.

The stock has also benefited from broader crypto sector tailwinds, as the SEC recently granted a five-year temporary exemption for tokenized securities trading platforms, lifting sentiment across crypto-related equities. Sector peer Strategy gained 8.26% and Circle rose 6.01% during the same session.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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