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3h ago

BitMine’s Ethereum Hoard Tops 1.7 Million as Stock Liquidity Cracks U.S. Top 20

The company is using brisk equity fundraising to pursue a target of roughly 5% of Ethereum’s supply.

Ethereum treasury BitMine now holds over $8 billion in Ether, Bitcoin, and cash
Bitmine's eth holdings top 1.7m tokens, with $562m of buying power remaining
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Bitmine boasts world’s largest ethereum treasury as holdings surpass 1.71 million eth

Overview

  • BitMine reported 1,713,899 ETH, 192 BTC, and $562 million in cash as of Aug. 24, valuing crypto and cash near $8.8 billion before a market dip trimmed the tally to about $8 billion.
  • The firm said it added more than 190,500 ETH in the past week and increased cash plus crypto by $2.2 billion, with Chairman Tom Lee reiterating the “alchemy of 5%” supply goal.
  • Average daily dollar volume in BitMine shares reached about $2.8 billion over five sessions through Aug. 24, ranking the stock 20th nationwide, behind Coinbase and ahead of JPMorgan.
  • BitMine remains the largest corporate holder of ETH and the second-largest corporate crypto treasury overall, with its ETH stake representing just under 1.5% of the token’s supply.
  • Corporate ETH treasuries have swelled to roughly $19–20 billion by recent estimates as Ethereum notched fresh all-time highs before retracing, and industry voices including Vitalik Buterin highlighted concentration and leverage risks.