HeraldLoop

BitMine Immersion Technologies — page 13

Organization · 259 articles
Share

Coverage, page 13

page 13 of 13

Ethereum tops $1,800 as BitMine boosts holdings to 5.62 million ETH

Key takeaways BitMine bought 76,881 ETH, raising its holdings to 5.62 million ETH. The company now controls about 4.66% of Ethereum’s circulating supply. ETH is attempting to hold above $1,800 while facing resistance near $1,900.  BitMine adds nearly 77,000 ETH to its reserve Ethereum treasury company BitMine Immersion Technologies significantly expanded its Ether holdings last […]

CoinJournalCoinJournal•Hassan Maishera16 Jun

Tom Lee’s Bitmine Adds 76,881 ETH as Holdings Reach 5.62 Million ETH

Bitmine’s crypto, cash, marketable securities, and strategic holdings now total $10.4 billion, with the company closing a preferred stock offering and continuing to push toward owning 5% of ethereum’s total supply. Bitmine Reaches 4.66% of Ethereum Supply as Crypto Holdings Hit $10.4 Billion Bitmine Immersion Technologies said its ether holdings have climbed to 5.62 million […]

Bitcoin.com NewsBitcoin.com News•Emmanuel Musa15 Jun

Ethereum devs huddled in the Arctic Circle to fix the network. Here’s what to know

Ethereum's core developers have delivered their most significant technical milestone in months, emerging from a week above the Arctic Circle with a credible roadmap to dramatically scale the network's capacity. Last week, just over 100 core contributors gathered in Longyearbyen, on Norway's Svalbard archipelago — some 78 degrees north, where the sun never sets — for the Soldøgn interop, a week of intensive work on the Glamsterdam network upgrade. By Friday, the team had locked in a post-Glamsterdam gas limit floor of 200 million, stabilised external block builder implementations, and finalised gas repricing numbers for EIP-8037. "At their best, interop weeks can compress a month of asynchronous progress into each day," Ethereum Foundation researcher Tim Beiko wrote in a recap shared with developers on Friday. The breakthrough lands as Ether trades at $2,377, still more than 50% below its August peak of $4,946. However, signs of hope are emerging. Ethereum has jumped 14% over the past month, CoinGecko data shows . The 200 million gas limit target is notable because it determines how many transactions Ethereum can process per block. The higher the limit, the more activity the network can handle without congestion — and the stronger the case for Ethereum as the backbone of a global financial system. Beiko billed it as one of the most productive weeks in recent memory for the Ethereum team. Foundation sells, Bitmine buys The Ethereum Foundation wasted no time translating its technical progress into operational runway. On Friday, the Foundation completed a third over-the-counter sale of 10,000 Ether tokens to Bitmine Immersion Technologies — the largest Ethereum treasury company — at an average price of $2,292 per coin, bringing the total transaction value to roughly $23 million. It is the third such deal between the two parties. In March, the Foundation sold Bitmine 5,000 ETH at around $2,043 per coin. Last Friday, another 10,000 ETH changed hands at $2,387. The Foundation has also conducted a separate 10,000 ETH sale to rival treasury firm Sharplink. The money goes straight back into funding Ethereum's development, including research, grants, and the kind of work that just happened in Svalbard, the Foundation said. But despite the price downturn, Bitmine, led by prominent Wall Street bull Tom Lee, is not flinching. Earlier this week the company disclosed its largest Ethereum purchase of the year — 101,901 ETH worth roughly $235 million — bringing its total holdings above 5 million Ether and cementing its position as the dominant corporate accumulator of the asset. Bitmine bought most of its Ethereum at much higher prices. At today's levels, the company is sitting on an unrealised loss of more than $6 billion. Lance Datskoluo is DL News’ Europe-based markets correspondent. Got a tip? Email him at lance@dlnews.com

DLNewsDLNews•Lance Datskoluo4 May

Bitcoin mining meltdown? Why IREN’s real future is in AI, according to Bernstein

Artificial intelligence is the real opportunity for Bitcoin miners, analysts say. IREN’s future now rests on transforming into a hyperscale AI cloud operator, rather than mining Bitcoin as it had done in the past, according to wealth management firm Bernstein. Bernstein slashed its price target on IREN to $100 from $125 per share but maintained its “outperform” rating, citing the successful pivot to building its AI cloud business. “IREN remains our top pick among AI focused Bitcoin miners,” analyst Gautam Chhugani and his three colleagues said in a note shared with DL News. Bernstein’s positive rating lands as the cryptocurrency industry is still reeling from a $1.5 trillion drawdown since October despite stocks and other assets soaring to historic highs. The S&P 500 printed a new record in April, while gold and commodities also post strong performance. Bitcoin is trading 40% below its October high of $126,000, meaning that miners’ business model is less lucrative. AI bonanza IREN’s repositioning comes as equity investors rotate aggressively into AI plays, despite widespread chatter of a bubble. Technology companies have driven much of the S&P 500’s gains in recent years. In contrast, crypto-linked equities like Strategy and Bitmine have struggled as digital asset prices retraced from their highs in late 2025. The Bernstein report says IREN has contracted 150,000 graphic processing units supporting annualised revenue of $3.7 billion once fully deployed, with roughly half already locked into a five-year Microsoft deal. By 2027, Bernstein expects the AI cloud segment alone to generate $2.1 billion in adjusted EBITDA — a key metric for Wall street — as the company sunsets its Bitcoin mining operations. Revenue projections illustrate the shift. Bernstein models IREN’s AI cloud revenue surging from just $16 million in 2025 to $1.4 billion in 2027, overtaking Bitcoin mining as the company’s primary engine of growth. By 2030, analysts project $6 billion in cloud revenue and nearly $5 billion in adjusted EBITDA, with margins exceeding 80% The physical backbone of that strategy is IREN’s 4.5 gigawatt power portfolio. Sites in British Columbia and Texas are being retrofitted for GPU racks, while additional capacity at Sweetwater and Oklahoma provides expansion optionality. Lance Datskoluo is DL News’ Europe-based markets correspondent. Got a tip? Email him at lance@dlnews.com

DLNewsDLNews•Lance Datskoluo28 Apr

Bitmine buys $294m more Ethereum ahead of Clarity Act ‘markup in May’

Bitmine continues to amass the largest Ethereum war chest as US lawmakers debate crypto’s future. On Monday, the crypto treasury firm bought up another $294 million worth of Ether in its largest haul since December. It now holds roughly $12 billion worth of the second-largest cryptoasset, alongside significant equity stakes in ventures including Beast Industries and Eightco. Bitmine Chair Tom Lee said Ethereum is benefiting from “dual tailwinds”: Wall Street tokenising assets and artificial intelligence. Bitmine is one of the few public equities offering exposure to OpenAI via Eightco. Bitmine’s latest haul comes as Senator Cynthia Lummis said at the Bitcoin 2026 conference on Monday that the Senate will mark up the long-awaited Clarity Act in May — a pivotal step toward establishing a federal framework for digital assets. Lummis is one of the most prominent voices on Capitol Hill backing the crypto industry and an early Bitcoin buyer. Ethereum is up 14% over the past month, though still down 54% from its August peak of $4,950. Spot exchange-traded funds tracking the token have drawn $489 million in April, snapping a five month losing streak, DefiLlama data shows . “In our view, there is a lot of meaning to Ethereum being the best 'war-time store of value' and to Ether being the asset leading since the [Iran] war started," said Lee. Though its share price is down over 60% since August, Bitmine enjoys backing from ARK's Cathie Wood, Founders Fund, Pantera, Kraken, Galaxy Digital and Bill Miller. Clarity Act The Clarity Act is facing delays in Washington as lawmakers struggle to agree on key parts of the bill. The bill, which has been stuck in Senate procedural limbo after clearing the House back in July 2025, would establish a federal market structure framework for digital assets. Lawmakers have been haggling over friction points including stablecoin yield rules and regulatory jurisdiction. The Senate Banking Committee failed to schedule an April markup of the Clarity Act, pushing debate into May as sticking points remain. Last week, Galaxy Digital’s head of research warned in a note shared with DL News that if the Senate does not move forward with the Clarity Act by mid-May, the chances of it passing in 2026 will drop quickly. He estimates the odds are already around 50% or lower. Lummis pledged swift movement in Washington, saying the Senate will take up the Clarity Act in May and push through digital asset legislation. “Bitcoin comes with a culture that could’ve written the US Declaration of Independence that we celebrate today,” she said. Crypto market movers Bitcoin is down 1.1% over the past 24 hours at $76,822. Ethereum is down 1.6% over the past few hours at $2,283. What we’re reading Justin Sun announces $20m boost for Aave as he calls on lender to expand to his blockchain — DL News Banks are fighting a ‘sideshow’ as Clarity Act stalls. Will it matter? — DL News US Military Is Running a Live Bitcoin Node for Cybersecurity Research, Indo-Pacific Commander Tells Congress — Unchained S&P 7,100, Oil drought, and a $3T bond bet — Milk Road Bitcoin traders eye $90,000 price after Kevin Warsh’s confirmation chances skyrocket. Here’s why — DL News Lance Datskoluo is DL News’ Europe-based markets correspondent. Got a tip? Email him at lance@dlnews.com

DLNewsDLNews•Lance Datskoluo28 Apr