Overview
- BitMine bought 138,452 ETH last week in its largest weekly haul in over a month, a 156% increase versus four weeks earlier.
- Reported holdings now represent more than 3.2% of Ethereum’s circulating supply, reinforcing its status as the largest known corporate ETH treasury.
- Total crypto and cash assets stand at $13.2 billion, including $1.0 billion in cash, 193 BTC, and a $36 million stake in Eightco Holdings.
- Executives point to Ethereum’s December 3 Fusaka upgrade and potential Federal Reserve rate cuts and an end to quantitative tightening as catalysts for continued buying.
- Despite continued accumulation, the company is carrying sizable unrealized losses on its ETH position estimated near $3 billion and says its stock remains among the most actively traded with about $1.8 billion in average daily volume.