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4d ago

BitMine’s Ethereum Treasury Reaches $6.6B After $1.7B Weekly Accumulation

BitMine plans to widen equity programs to fund further ETH purchases toward its 5% supply target.

BitMine’s $1.7b weekly haul pushes Ethereum holdings past $6.6b
Tom Lee's BitMine reports over $6.6 billion in Ethereum and Bitcoin
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Overview

  • BitMine holds about 1.52 million ETH and 192 BTC, valuing its crypto assets at approximately $6.6 billion and making it the largest corporate Ethereum treasury and second-largest corporate crypto treasury.
  • The company added roughly 373,110 ETH to its treasury over the past week, representing a $1.7 billion increase in holdings.
  • It intends to expand at-the-market equity offerings, potentially upsizing by $20 billion, to finance ongoing Ethereum accumulation.
  • BitMine’s stock has averaged $6.4 billion in daily trading volume but slid around 7% as Ether prices fell 5%, underscoring its share liquidity and price sensitivity.
  • Rapid corporate ETH purchases have strained Ethereum’s staking pipeline and validator queues, raising concerns over network capacity and concentration risks.