Particle.news
Download on the App Store
15 ARTICLES
·
3h ago

BitMine Discloses 3.24 Million ETH, Lifts Stock as Tracker Totals Raise Questions

The company said it bought roughly 203,800 tokens during last week’s deleveraging, with third‑party trackers reporting higher totals.

Image
Bitmine stock pops 8% on 3.24 million eth milestone
Image
Image

Overview

  • BitMine said it added about 203,800 ETH (roughly $800 million) in the past week, bringing its treasury to 3.24 million ETH, or about 2.7% of the circulating supply.
  • On‑chain analytics groups including Arkham and BMNR Bullz reported post‑crash purchases totaling 379,271 ETH (about $1.5 billion), a larger figure that BitMine has not fully confirmed.
  • Lookonchain flagged BitMine‑linked wallets receiving more than 72,000 ETH from FalconX and BitGo this week, reinforcing reports of sizable OTC and custodial flows.
  • The firm began accumulating in July and continues to pursue a stated goal of holding 5% of Ethereum’s supply as part of its treasury strategy.
  • BitMine shares rose roughly 8% after the disclosure, as chairman Tom Lee repeated his long‑term bullish outlook for ETH even as he warned that many digital asset treasuries trade at or below NAV.