BitMine Becomes The Largest ETH Treasury Globally With Over 833,000 ETH, Following Recent Accumulation Pattern
Main Idea
BitMine (NYSE: BMNR) has rapidly accumulated 833,000 ETH, becoming the largest ETH treasury holder, with a strategy focused on growth and yield compounding, backed by prominent investors.
Key Points
1. BitMine holds 833,000 ETH valued at $2.9 billion, making it the largest ETH treasury globally.
2. Tom Lee leads the initiative with a goal to own 5% of total ETH supply, supported by investors like Bill Miller III and Cathie Wood.
3. BMNR's stock sees high trading volume ($1.6 billion daily), ranking #42 among 5,702 stocks, boosting liquidity and demand for ETH.
4. Corporate crypto treasuries total 2.74 million ETH ($9.72 billion), with BitMine leading in ETH holdings and ranking third overall in crypto holdings.
5. BitMine's strategy involves buying ~24,000 ETH daily ($84 million), tightening supply and impacting DeFi liquidity and lending rates.
Description
BitMine (NYSE: BMNR) flips the script on ETH treasuries. In just 35 days, it piles up 833,000 ETH. At today’s prices, around $3,500 per ETH on CoinMarketCap, it holds $2.9 billion in ETH. That makes BitMine the largest ETH treasury on the planet. Tom Lee leads the charge. He sets a bold goal: own 5% of total ETH supply . He moves fast. Every new tranche of ETH goes straight into staking. That dual play, stack and stake, drives yield. It also fuels growth. Yield compounds back into the treasury. ...
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