BitMine claims global Ethereum treasury title with $2.9b in holdings

Bitmin Immersion performs one of the most aggressive accumulation of crypto, amassing 833,137 ETH of $ 2.9 billion in just five weeks. Amazing transport is now positioning the company as the largest Ethereum business holder in the world.

In a press release Dated August 4, Bitmin Immersion Technologies announced his Ethereum (Ethn) The Treasury had climbed to 833,137 ETH, exceeding all the other listed companies in Total Holdings.

The company, which has not started its ETH accumulation strategy at the end of June, has reached the milestone at a dizzying speed, adding an average of 24,000 eTH per day. At current prices, the reserve represents approximately 0.7% of the offer in total Ethereum circulation, putting the hint on the right track to reach its declared objective of raising 5% of the assets.

“Bitmin moved to the speed of lightning in its pursuit of” 5% alchemy “of ETH which increased our ethics of ETH to more than 833,000 from zero 35 days,” said Thomas Lee, Chairman of the Bitmin’s Board of Directors. “We separated among the peers of the cryptographic treasure both by the speed of the increase in crypto navigation by action and by the high liquidity of our stock.”

Why does Bitmin bet big on Ethereum.

Bitmine’s aggressive accumulation strategy seems to be motivated by the conviction that the implementation will soon become one of the most reliable sources of return on the digital markets. President Thomas stressed in the press release that once the straging begins, the profile of Bitmine’s profits will move considerably, positioning the company to strengthen the shareholders’ value in a way that follows Michael Saylor’s strategy.

Investors seem to be aligned with vision. According to the press release, Bitmin’s Stock (BMNR) has become one of the most negotiated shares in the United States, with $ 1.6 billion in daily volume in the last five days, competing with blue chips like Uber.

At the same time, double-level donors double: the entities linked to Peter Thiel acquired a participation of 9.1% earlier this month, while Ark Invest by Cathe Wood has accumulated shares at a frantic pace.

Last week, Ark increased by an additional $ 17 million in BMNR shares in its flagship FNB, adding to the purchase of $ 20 million four days earlier and a $ 182 million Buy the previous week. The purchase suggests an institutional condemnation in Bitmine’s ability to execute his Ethereum strategy where others have hesitated.

Meanwhile, Sharplink, the rival closest to Bitmine in the accumulation of corporate ethn, holds 480,031 ETH, worth 1.65 billion dollars, after Addition of $ 54 million Worth on August 3.