Bitmine Immersion Technologies, Inc. (BMNR) experienced a sharp drop today, falling 7.03% to $49.73 by 3:48 PM EDT.
This decline came despite the company’s major crypto milestone and rapidly increasing asset base. The price drop contrasts with a significant rise in the company’s crypto and cash holdings.
Bitmine announced its total crypto and cash assets now exceed $8.82 billion, marking a $2.2 billion increase from the previous week. The company holds 1,713,899 Ethereum (ETH), 192 Bitcoin (BTC), and $562 million in unencumbered cash. This growth makes Bitmine the world’s largest Ethereum holder and second overall in crypto holdings globally.
Based on Bloomberg pricing, ETH is valued at $4,808 per token, and the company executes rapid weekly acquisitions. Bitmine has increased its ETH position by over 190,000 tokens in just one week. Its aggressive acquisition strategy reflects its ambition to control 5% of all ETH in circulation.
Bitmine launched its ETH Treasury strategy on June 30 and closed its initial phase on July 8. Within six weeks, the company rapidly built the largest Ethereum treasury. It continues to raise capital from major institutions to support ongoing expansion.
Bitmine’s net asset value (NAV) per share has surged from $22.84 on July 27 to $39.84 on August 24. This jump demonstrates strong capital inflows and a steep climb in crypto valuations. Bitmine’s fully diluted share count stands at 221,515,180.
The increase in NAV showcases the company’s ability to grow its crypto assets while maintaining strong equity metrics. This sharp NAV growth reflects both Ethereum’s price rise and strategic accumulation. Bitmine’s stock remains one of the most liquid in the U.S. market.
According to Fundstrat data, Bitmine ranks #20 in average daily dollar trading volume, placing it among top U.S.-listed equities. It surpasses major financial and tech names such as JPMorgan and Palo Alto Networks. The company’s market activity points to rising relevance among retail and institutional traders.
Bitmine receives backing from a consortium of high-profile institutional players including ARK’s Cathie Wood, Founders Fund, Kraken, and Galaxy Digital. These entities continue to support Bitmine’s aim of becoming a dominant force in crypto markets. The company’s approach aligns with the broader shift toward blockchain-based financial systems.
Its business model spans Bitcoin mining, synthetic mining, and financial advisory services focused on crypto-denominated revenues. Bitmine also advises public companies on crypto strategies. The diversified model supports steady asset accumulation and operational revenue.
The company frames its strategy within the context of landmark financial transformations, comparing 2025’s regulatory shifts to the end of the Bretton Woods system. It positions Ethereum as the core infrastructure for the next generation of financial innovation. Bitmine remains focused on long-term value creation through crypto ownership.
The post Bitmine (BMNR) Stock: Crypto Powerhouse Adds $2.2B in ETH, Tops Global Ethereum Holdings appeared first on CoinCentral.
Also read: Bitmine Boasts World’s Largest Ethereum Treasury as Holdings Surpass 1.71 Million ETH
