Ethereum treasury firm BitMine (BMNR) closed down more than 8% on Monday after revealing that it acquired an additional 82,353 ETH over the past week. The company now holds nearly 3.4 million ETH, valued at more than $12 billion, along with 192 BTC and almost $389 million in cash. BitMine’s ETH stash accounts for 2.8% of the total supply, moving it closer to its long-term goal of owning 5% of all ETH in circulation.
This makes the firm the largest publicly listed Ethereum holder and second-largest digital asset treasury globally, trailing only Michael Saylor’s Strategy. BitMine’s investor base includes Peter Thiel’s Founders Fund, Cathie Wood, Bill Miller III and major crypto firms such as DCG, Galaxy and Kraken.
Despite strong fundamentals and heavy backing, BMNR shares fell to around $42 amid a broader crypto market decline. BitMine says its stock has seen massive activity recently, averaging $1.5 billion in daily trading volume over the past week.
You need to login in order to Like
Leave a comment