Tom Lee’s Bitmine Becomes First Ethereum Treasury to Accumulate 1,000,000 ETH
Main Idea
Bitmine has significantly increased its ETH holdings to 1.15 million tokens worth $4.9 billion, becoming a major player in Ethereum treasury holdings, while Ethereum's price reaches a three-and-a-half-year high.
Key Points
1. Bitmine's ETH holdings reached 1.15 million tokens worth $4.9 billion, an increase of 317,126 ETH in a week.
2. Bitmine now holds 34% of the total ETH treasury holdings among Ethereum treasury companies, the largest share.
3. Ethereum treasury companies collectively hold 2.9% of the entire ETH supply, with spot Ether ETFs holding around 5%.
4. Bitmine's stock (BMNR) has seen a 1,300% increase in value since it began stacking and staking ETH, with a daily trading volume of $2.2 billion.
5. Ethereum's price hit a three-and-a-half-year high of $4,350, nearing its all-time high, and showed resilience by reclaiming $4,300 after a brief retreat.
Description
Bitmine Immersion Technologies has become the first corporation to accumulate more than a million ETH for its strategic treasury. On Monday, the firm announced that its ETH holdings had reached 1.15 million tokens worth around $4.9 billion. It added that this total is 317,126 more than a week ago, and the treasury value is around $2 billion higher relative to that period. 1/4 BitMine today announced ETH holdings of 1,150,263 tokens: – ETH holdings of 1,150,263 is valued at $4.9 billion ($4,300 E...
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