$BMNR OWNS ALMOST 6 MILLION ETH.
So think of it this way:
Every $100 ETH rises = roughly $600M added to the value of BitMine’s ETH treasury.
And at different $ETH prices:
ETH $2,500 → BitMine ETH = $14.9B
ETH $3,000 → $17.9B
ETH $4,000 → $23.8B
ETH $5,000 → $29.8B
That’s the scale of 5,956,378 ETH.
A move from $2,500 to $5,000 ETH would add almost $15 BILLION to the value of BitMine’s ETH alone.
Tom Lee
@fundstrat wanted scale. Nearly 6 million ETH later, he has it.
$BMNR is 143,622 ETH from 5% and still trades at 0.94× mNAV.
Official 14 Sep print: 5,956,378 ETH · 4.9% of 122.0M · $549M cash.
At $2,448 ETH the last 143,622 costs $351M.
Cash left if they finish 5% here: $198M.
The question is the split: Alchemy with cash, or buy back while the multiple is under 1.
That leftover only holds if the ATM stays off under 1.0×.
Watch next print: ETH added · cash used · shares retired.
I hold $BMNR $ETH. Not affiliated. NFA.
Show more