We have recently featured 10 Stocks Hurt More than the Market. On Tuesday, Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) was among the poorest performers.
The company’s stock dropped by 6.91 percent on Tuesday, settling at $52.92 per share, as investors engaged in profit-taking following the previous day’s gains, propelling by a new acquisition of Ethereum tokens.
Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) announced that it recently acquired a total of 202,037 ETH tokens over the last few days.
“Due to the crypto market’s liquidation in recent days, ETH experienced a price drop, which BitMine capitalized on. We have secured 202,037 ETH tokens during this period, bringing our total ETH holdings to over 3 million, or 2.5 percent of the entire ETH supply,” stated Chairman Thomas Lee of Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR).
“We are now confidently progressing towards our original goal of capturing 5 percent of ETH,” he added.
Copyright: sdecoret / 123RF Stock Photo
In addition to Ethereum, Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) also possesses 192 Bitcoins, a $135 million investment in Eightco Holdings, and $104 million in unencumbered cash.
Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) remains the leading holder of Ethereum tokens and ranks as the second largest cryptocurrency treasury holder after Strategy Inc.
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Disclosure: None. This article was originally published at Insider Monkey.
