Imagine, if you will, a plucky little empire-BitMine Immersion Technologies-announcing it’s now holding a charming 2% of Ethereum’s entire supply. Yes, darling, 2,416,054 ETH to be precise, valued at a rather flashy $10 billion, just enough to make the average financier swoon or clutch their pearls. Meanwhile, the total supply yawns grandly at 121 million tokens, as if to say, “Is that all?”
Our ambitious friends haven’t stopped there! Aiming for a lofty 5%, they dream of 6 million ETH-because who doesn’t love a good aspiration when financiers are involved? Perhaps a touch of hubris, but one must keep the champagne flowing, even if it’s just on paper.
Forty Percent of their Dream – Keep the Naphtha Burning! 🚀
Chief Tom Lee, the darling of Fundstrat, prances about declaring, “BitMine’s ETH stash now exceeds 2% as we march towards our ‘Alchemy of 5%,’”-a phrase so grand it might be served at a royal banquet. He’s quick to remind us that in August, they flirted with 1%, barely enough to run a small soirée, and yet, now their shares drift above $61. How charming!
BitMine made a few little announcements:
– A handsome $365.24 million at $70 per charming share
– ETH holdings now a scandalous 2.4 million tokens
…but the real adventure continues. Read on, sweet reader.
Links, links, links-who doesn’t love a good scroll?
Stock ticker: $BMNR – spice up your portfolio, darling.
Chairman: the man with a vision-and probably a lorgnette.
– Bitmine (NYSE-BMNR) $ETH (@BitMNR) September 22, 2025
Tom further theorizes that with Wall Street and AI making their grand entrances into the blockchain ballroom, we’re all on the cusp of a revolution-most likely to be televised and widely fantasized about. Ethereum, of course, is the star at this soirée, grabbing 5.25 million ETH this year alone. BitMine floors it with 46% of that, mind you.
Meanwhile, they’ve cunningly raised $365 million by selling 5.2 million shares at $70-nothing like a bit of cash to sweeten the pot. And with warrants (think of them as charming little IOUs) allowing for 10.4 million more shares at $87.50, if the stars align, another $913 million could drift into their coffers. All this, relentlessly touted as “the only large-cap US stock giving direct runways to Ethereum”-a true spectacle!
Exciting news-though, not to be ignored, their stock (BMNR) did a little tap dance downward, down 10% on Monday, as Ether decided to have a temper tantrum. Shares dipped to $56 after hours, but still, a 1200% increase since June-because when you’re on a winning streak, darling, the sky’s the limit.
Across the blockchain ballrooms, Bitcoin‘s treasury companies-Strategy and Metaplanet-decided to add some more BTC to their jewelry boxes, just to keep the crowd guessing.
Ether’s Steady as She Goes – for Now 🚶♂️💆♀️
No further dips in ETH lately-at least not today. It’s trading solidly at $4,200, sitting at the very edge of its six-week channel, clutching support like a debutante clutching her pearls. The leverage flushout might be over; perhaps the crypto carnival will settle, but one can never be too sure-additional September fireworks may still be lurking.
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2025-09-23 14:01