Bitmine Immersion Technologies (BMNR) surpasses Marathon Digital to become the world’s 2nd largest crypto treasury holder with $13.4 billion in combined crypto and cash holdings, including 2.83 million Ethereum.

At current market prices, Bitmine’s Ethereum reserves are worth approximately $12.83 billion, giving it control of over 2% of the total ETH supply, leading to a positive impact on stock performance.

Backed by prominent investors, Bitmine continues to pursue Chairman Thomas Lee’s goal of acquiring 5% of Ethereum’s circulating supply, reaffirming long-term commitment to Ethereum at the Token 2049 conference in Singapore.

Ethereum price surged 4% intraday to above $4,719, its highest level since mid-September, signaling renewed optimism as investors anticipate bullish reactions to the US shutdown.

Read more at Yahoo Finance: Bitmine Overtakes Marathon Digital as Second-Largest Crypto Treasury with $13.4B ETH, BTC Holdings