BitMine Immersion Technologies Inc. (NYSE: BMNR ) stock rose more than 5% in Monday’s premarket trading as cryptocurrency prices climbed and the company disclosed a larger Ethereum treasury.
Bitcoin (CRYPTO: BTC) jumped 5.5% over the past 24 hours to $85,262.62. Ethereum (CRYPTO: ETH) gained 5.9% to $2,728.49.
Broader market sentiment was also positive. Nasdaq futures rose 0.93%, while S&P 500 futures gained 0.65%.
BitMine Ethereum Holdings Approach 6 Million Tokens BitMine said Monday that its Ethereum holdings reached 5,983,940 tokens as of Sept. 20 .
At an Ethereum price of $2,688, the position represented about 4.9% of the cryptocurrency’s 122.1 million-token supply.
The company reported $17.1 billion in total crypto, cash, marketable securities and other investments. That included 212 Bitcoin, $714 million in cash and marketable securities, a $180 million stake in Beast Industries and a $105 million stake in Eightco Holdings Inc. (NASDAQ: ORBS ).
BitMine said it has staked 5.07 million Ethereum tokens worth about $13.6 billion. That represents roughly 85% of its Ethereum holdings.
The company estimated annualized staking revenue of about $357 million. Its seven-day annualized ...