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4d ago

BitMine’s Ethereum Treasury Tops $2 Billion After 566,776 ETH Buy

The milestone cements its lead as the largest corporate ETH holder, paving the way toward staking 5% of the network’s supply.

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Overview

  • BitMine acquired 566,776 ETH at an average $3,643.75 per token on July 24, bringing its holdings to more than $2.1 billion under an asset-light strategy.
  • The company closed a $250 million private placement on July 8 to accelerate its Ethereum accumulation and staking plans.
  • Equity options for BMNR shares began trading on the NYSE Options Market to broaden investor access to its ETH strategy.
  • Chairman Tom Lee said BitMine is progressing toward its target of owning and staking 5% of Ether’s circulating supply to boost ETH-per-share performance.
  • Shares of BitMine jumped as much as 15.7% intraday following the ETH holdings announcement, reflecting rising institutional demand and ether price gains.