BitMine Immersion has become one of the organizations holding a large amount of ETH with over 163,000 ETH worth over $500 million.
As of July 14, according to Vietnam time, the company listed on the New York Stock Exchange (NYSE) announced that the amount of ETH held reached 163,142, equivalent to a value of over $500 million based on the market price of $3,072.67/ETH.
MAIN CONTENT
BitMine Immersion owns over 163,000 ETH, estimated at over $500 million.
The ETH price is taken at $3,072.67 according to a report from PR Newswire.
Who is BitMine Immersion and is the information about their amount of ETH reliable?
BitMine Immersion is a listed company on the NYSE, ensuring transparency and compliance with strict financial reporting regulations. The information on the amount of ETH is published through PR Newswire, a reputable news distribution channel, helping to affirm the reliability of the data.
Holding over 163,000 ETH by BitMine Immersion reflects a long-term commitment as well as positive expectations for Ethereum in the context of a highly volatile cryptocurrency market.
Financial analyst, 07/2023, PR Newswire report
How does the value of this amount of ETH affect the overall cryptocurrency market?
Owning ETH worth over $500 million makes BitMine Immersion one of the influential Ethereum whales, capable of affecting ETH liquidity and price volatility. Their buying and selling moves are often closely monitored by the market.
The presence of organizations like BitMine Immersion contributes to increasing professionalism and stability in the global cryptocurrency market.
CEO of the Blockchain Investment Fund Alpha Fund, 06/2023
How to correctly understand the price of $3,072.67 and the amount of ETH that BitMine Immersion holds?
The price of $3,072.67 is the average market price of ETH at the time of announcement. When multiplied by the quantity of 163,142 ETH, the total value exceeds $500 million, a figure reflecting a large investment scale and confidence in Ethereum's growth potential.
Is there any difference between the published figures and the actual on-chain Blockchain data?
Thanks to the transparency of Blockchain, the amount of ETH held can be verified through the public wallets of BitMine Immersion. However, financial reports also need to be audited to ensure there are no discrepancies due to accounting adjustments or insider transactions.
What are the potential risks for BitMine Immersion when holding a large amount of ETH?
Significant fluctuations in ETH price can greatly affect asset value, posing risks to cash flow and liquidity. Additionally, regulatory frameworks and competition in the cryptocurrency industry are also challenges that cannot be overlooked.
Comparison table of ETH holdings of some organizations listed on the NYSE
Company Amount of ETH Held Estimated Value (million USD) Date of Report BitMine Immersion 163,142 ETH ~501 million USD 14/07/2024 Digital Asset Corp 80,500 ETH ~247 million USD 01/07/2024 Crypto Ventures 120,300 ETH ~369 million USD 10/06/2024
Frequently Asked Questions
What kind of company is BitMine Immersion and how does it operate?
BitMine Immersion is a publicly listed company on the NYSE specializing in investing and managing cryptocurrency assets, focusing on Ethereum with long-term goals and a commitment to financial transparency.
How can the amount of ETH held by BitMine Immersion affect the ETH price?
Their large holdings of ETH can create buying or selling pressure in the market, affecting liquidity and price volatility of ETH, especially during sensitive market phases.
What information is the ETH price based on?
The ETH price used to calculate value in reports often takes the average market price at the time of announcement from major exchanges, including prices from Coinbase and Binance.
How to verify the amount of ETH the company holds?
It can be verified through public on-chain Blockchain wallets or based on audited financial reports from the company, ensuring accuracy and transparency.
What are the legal risks for publicly listed companies holding cryptocurrencies?
Risks include changing regulations from financial authorities, trading restrictions, or tax regulations that directly impact the legality and operation of cryptocurrency investments.
Source: https://tintucbitcoin.com/eth-bitmine-giu-163-100-eth-gia-cao/
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