BitMine Adds 82,300 ETH in Latest Accumulation Push
BitMine Immersion Technologies has made another major move in the crypto market, adding 82,300 ETH to its growing Ethereum treasury this week. The purchase brings the companyโs total crypto and cash assets to $13.7 billion, reinforcing its position as the worldโs largest corporate holder of Ethereum and the second-largest overall crypto treasury behind Strategy Inc.
With this addition, BitMine now holds around 3.4 million ETH โ worth over $13.25 billion โ representing approximately 2.8% of Ethereumโs circulating supply. The company is now more than halfway toward its ambitious goal of owning 5% of all ETH, a milestone Chairman Thomas โTomโ Lee refers to as the companyโs โalchemy of 5%.โ
BitMineโs accumulation strategy has been nothing short of relentless. October saw a string of large-scale purchases, including 104,000 ETH acquired on October 16 and several other inflows tracked through Kraken and BitGo-linked wallets. This consistent accumulation has drawn significant institutional attention from ARK Invest, Founders Fund, Pantera Capital, Galaxy Digital, Kraken, Digital Currency Group, and Bill Miller III.
The companyโs growing influence extends beyond crypto holdings. BitMineโs U.S.-listed shares (BMNR) have surged 25% in 30 days, reaching a market capitalization of $12.49 billion, while daily trading volumes average $1.5 billion โ placing it among the top 60 most traded stocks in America.
BitMineโs latest move signals continued confidence in Ethereumโs long-term value, even amid short-term market pressure. The firmโs pursuit of 5% of ETH supply has now become one of the most closely watched accumulation stories in the crypto world.
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