Particle.news
Download on the App Store
6 ARTICLES
·
56m ago

BitMine’s Ethereum Treasury Tops 1.5 Million as Crypto Holdings Reach $6.6 Billion

In one week the NYSE-listed company boosted its ether stash by 373,000 tokens to become the largest corporate ETH holder

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
Image
Image

Overview

  • As of Aug. 17 the company held 1,523,373 ETH valued at $4,326 per token and 192 BTC, bringing its crypto portfolio to about $6.61 billion after a week-over-week increase of 373,110 ETH.
  • BitMine now claims the largest corporate Ethereum treasury and ranks second among public crypto treasuries globally behind Strategy Inc.
  • The firm launched its Ethereum treasury strategy on June 30 and has since accelerated acquisitions toward a target of owning 5% of total ETH supply.
  • Institutional backers including ARK Invest’s Cathie Wood, Founders Fund, Pantera Capital, Galaxy Digital, Kraken and DCG have supported BitMine’s rapid accumulation.
  • Despite its record ETH haul, BitMine’s stock fell 7% on Monday alongside Ethereum’s 5% price decline.