BitMine ETH Holdings Reach $6.6 Billion as Stock Price Falls 14%. Here’s Why
TLDR
- BitMine added 373,000 Ether tokens to reach 1.52 million ETH worth $6.6 billion
- Company stock dropped 14.2% in one week despite adding more cryptocurrency
- BitMine now holds 1.3% of total Ethereum supply, making it largest corporate ETH holder
- Company plans $24.5 billion stock sale to buy more Ether as part of “alchemy of 5%” strategy
- Ethereum ETFs saw $17 billion trading volume last week driving renewed institutional interest
BitMine Immersion Technologies has built the world’s largest corporate Ethereum treasury worth $6.6 billion. The publicly traded Bitcoin mining company added 373,000 Ether tokens in one week.
The purchase brought BitMine’s total holdings to 1.52 million ETH tokens. This represents 1.3%…
