TechFlow, Nov 24 — BitMine Immersion Technologies announced it has acquired 3.63 million ether (ETH), representing 3% of ETH's total supply, advancing toward its "5% alchemy" goal. The company’s total assets amount to $11.2 billion, including 3.63 million ETH, 192 bitcoins, $800 million in unencumbered cash, and other investments.
BitMine has become one of the most actively traded stocks in the United States, with an average daily trading volume of $1.6 billion, ranking 50th among 5,704 listed equities. The company plans to launch its "Made-in-America Validator Network" (MAVAN) in early 2026, providing secure staking infrastructure.
Company Chairman Thomas "Tom" Lee stated that the recent decline in cryptocurrency prices reflects weakened liquidity since October 10 and soft technical indicators. However, ETH is now approaching its anticipated bottom of $2,500, with limited downside risk and substantial upside potential.
