Bitmine Immersion has accumulated over 833,000 ETH worth $2.9 billion, becoming the largest ethereum treasury in the world. Backed by leading investors, the company currently ranks third among the largest cryptocurrency holders globally, after MicroStrategy and MARA.
BMNR Soars in Liquidity Ranking as Treasury Strategy Reaches 833,000 ETH
Bitmine Technology Inc. (Nasdaq: BMNR) has solidified its position as the largest global ethereum treasury, with holdings surpassing 833,000 ETH worth over $2.9 billion as of August 3.
This milestone places Bitmine ahead of all other companies in accumulating ETH and ranks third overall in the corporate cryptocurrency treasury race, only behind MicroStrategy and Marathon Digital (MARA).
Bitmine's aggressive treasury strategy, launched on June 30 and completed on July 8, has quickly transformed the cryptocurrency landscape for corporations. The company's goal: to purchase 5% of the total ETH supply, demonstrating a bold commitment to ethereum as a core financial asset.
Thomas Lee of Fundstrat, Chairman of the Board of Bitmine, has shed light on the company's aggressive ETH strategy.
Bitmine has moved at lightning speed in pursuing the ‘magic 5%’ of ETH, increasing our ETH holdings to over 833,000 from zero in 35 days. We have set ourselves apart from other cryptocurrency treasury competitors thanks to both the rapid increase in crypto net asset value on stakes and the high liquidity of our stock.
Supporting this strategy is a team of elite institutional investors, including Bill Miller III, the legendary value investor and senior advisor to Miller Value Partners, alongside Cathie Wood's ARK Invest, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital.
BMNR's market presence has emerged alongside the accumulation of ETH. Fundstrat data shows that the stock currently trades an average of $1.6 billion per day, ranking 42nd among all listed stocks in the U.S., just below Uber, placing it into the highest liquidity stock group in the market.
