BitMine Immersion Technologies has revealed that it holds approximately 3.8 million ether (ETH), the second-largest digital asset by market capitalization, in its reserves. The latest announcement comes as the company recently purchased 138,452 ETH. The massive buy shows that the firm is doubling down on its crypto asset strategy. Notably, the purchase cements BitMine’s position as one of the largest corporate holders of ETH. Even with the asset’s ongoing drawbacks, the company is not stopping its buying spree. The company has been gradually building its crypto portfolio, and other firms have followed suit. Continuous ETH Accumulation The aggressive accumulation of ETH over time also suggests a strong confidence in the asset’s long-term growth, particularly as global interest in blockchain technology continues to grow. Meanwhile, according to data from CoinGecko at the time of writing, the altcoin trades at over $3,152, up 4.4% in the last 24 hours. Aside from its remarkable ETH holdings, the firm currently holds roughly 193 bitcoins. Although the BTC amount is smaller than that of ETH, it adds another layer to its crypto reserves. The firm is not tied to a single asset. Its crypto flexibility shows how willing the firm can be to be exposed to multiple major coins. According to the announcement, BitMine’s balance sheet disclosed $1 billion in cash. This gives the entity flexibility for investments in the future. In other words, the company is prepared and ready for business. Cash reserves are essential. In an unpredictable market like crypto, opportunities can arise quickly. $13.2 Billion In Combined Assets Meanwhile, the entity’s holdings now make it a leading ETH treasury and the second-largest global treasury behind Strategy, which owns roughly 650,000 BTC, worth 59 billion. In addition to crypto and cash, the firm revealed $36 million invested in what it calls “moonshot” equity positions. These are likely high-risk, high-reward bets on early-stage companies, possibly in technology or digital innovation. With the combination of both crypto assets, ETH and BTC, BitMine now sits at a total amount of $13.2 billion, putting the firm among the top dogs in the industry, even as the crypto space evolves. ETH and other major coins are also starting to gain momentum as most assets have been bleeding red in over the week. The post BitMine Reveals Over 3.86M ETH and $13.2B in Total Assets appeared first on CoinTab News.BitMine Immersion Technologies has revealed that it holds approximately 3.8 million ether (ETH), the second-largest digital asset by market capitalization, in its reserves. The latest announcement comes as the company recently purchased 138,452 ETH. The massive buy shows that the firm is doubling down on its crypto asset strategy. Notably, the purchase cements BitMine’s position as one of the largest corporate holders of ETH. Even with the asset’s ongoing drawbacks, the company is not stopping its buying spree. The company has been gradually building its crypto portfolio, and other firms have followed suit. Continuous ETH Accumulation The aggressive accumulation of ETH over time also suggests a strong confidence in the asset’s long-term growth, particularly as global interest in blockchain technology continues to grow. Meanwhile, according to data from CoinGecko at the time of writing, the altcoin trades at over $3,152, up 4.4% in the last 24 hours. Aside from its remarkable ETH holdings, the firm currently holds roughly 193 bitcoins. Although the BTC amount is smaller than that of ETH, it adds another layer to its crypto reserves. The firm is not tied to a single asset. Its crypto flexibility shows how willing the firm can be to be exposed to multiple major coins. According to the announcement, BitMine’s balance sheet disclosed $1 billion in cash. This gives the entity flexibility for investments in the future. In other words, the company is prepared and ready for business. Cash reserves are essential. In an unpredictable market like crypto, opportunities can arise quickly. $13.2 Billion In Combined Assets Meanwhile, the entity’s holdings now make it a leading ETH treasury and the second-largest global treasury behind Strategy, which owns roughly 650,000 BTC, worth 59 billion. In addition to crypto and cash, the firm revealed $36 million invested in what it calls “moonshot” equity positions. These are likely high-risk, high-reward bets on early-stage companies, possibly in technology or digital innovation. With the combination of both crypto assets, ETH and BTC, BitMine now sits at a total amount of $13.2 billion, putting the firm among the top dogs in the industry, even as the crypto space evolves. ETH and other major coins are also starting to gain momentum as most assets have been bleeding red in over the week. The post BitMine Reveals Over 3.86M ETH and $13.2B in Total Assets appeared first on CoinTab News.