U.S. company Bitmine Immersion Technologies (BMNR) saw its cryptocurrency reserves increase by $2.2 billion in a single day amid an Ethereum rally that pushed the altcoin above $2,200. Its balance sheet holds 5.815 million ETH, nearly 4.8% of the circulating supply, with the portfolio value rising from $11 billion to $13.2 billion. The company has been purchasing ETH weekly for over a year and has staked 87% of its reserves, generating approximately $250 million in fixed annual income. Despite this performance, the portfolio still shows an unrealized loss of $6.09 billion (31.25%) on a total investment of $19.49 billion, with an average purchase price of $3,357.63 per ETH. Tom Lee, Bitmine chairman and Fundstrat co-founder, believes Ethereum will become the operating system for AI agents and the settlement layer of the AI economy.
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