Ethereum treasury firm BitMine falls 8% after adding another 82,353 ETH
Quick Take The second-largest digital asset treasury now holds nearly 3.4 million ETH, worth over $12 billion, and 192 bitcoins, valued at about $20 million. BitMine’s stock dropped over 8% on Monday amid a wider market pullback.
Ethereum treasury firm BitMine (ticker BMNR) closed down over 8% on the day after the firm announced it added another 82,353 ETH tokens to its stockpile over the past week, according to The Block's data.
As of Sunday, the firm holds nearly 3.4 million ETH, worth over $12 billion, and 192 bitcoins, valued at about $20 million. It also has a $62 million stake in Eightco Holdings (ORBS) and $389 million in unencumbered cash, according to a release on Monday.
BitMine now owns 2.8% of the total ETH supply, over halfway towards its goal of owning 5% of the supply. This makes it the largest publicly traded ETH holder and second-largest digital asset treasury after Michael Saylor’s Strategy.
The firm is backed by billionaire investors, including Bill Miller III, Cathie Wood, and Peter Thiel, by way of his Founders Fund. Crypto natives like DCG, Galaxy, Kraken, and Pantera are also investors.
BMNR shares are trading hands slightly above $42 at around 21:40 UTC, making it one of Monday’s top 10 biggest losers among public crypto firms amid a wider marketwide pullback, according to The Block’s stock prices page .
According to Monday's release, BitMine's stock is the 60th most traded stock in the U.S., trading $1.5 billion per day over the past five days.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Strategy’s STRC plan could bring 365 dividend record dates – Details
Brazil’s New Crypto Rules Could Change the Market: 5 Altcoins Worth Holding as October Nears
With Q3 financial reports approaching, Samsung Electronics and SK Hynix face "extremely high expectations," testing "global AI trading"
The AI wave is driving a global semiconductor "super cycle," with combined third-quarter operating profits of Samsung and SK Hynix potentially approaching the historical record of 190 trillion won. The competition for HBM4 is intensifying, as agent-based AI pushes storage bandwidth demand up tenfold, making memory truly the "lifeblood" of AI data centers. Two upcoming financial reports will determine whether this boom is merely a flash in the pan or a structural transformation that will reshape the foundation of technology infrastructure.
‘Provide future qualification path’ — Strive challenges MSCI proposal to exclude Bitcoin treasuries
Crypto prices
More
