Recently, BitMine has become the second largest crypto treasury company after MicroStrategy, amassing $6.6 billion in assets through continuous ETH purchases.
BitMine's Milestones in Crypto Treasury
BitMine (BMNR) continues to accumulate Ethereum even amid market fluctuations. Within weeks, the company has increased its treasury to $6.6 billion and now competes with giants like MicroStrategy. Founder Tom Lee announced that BitMine aims to acquire 5% of the total ETH supply.
Insights on Ethereum and its Potential
The company is betting on Ethereum's prospects as a financial platform that could attract capital from traditional institutions. Ethereum is actively used for real asset tokenization and other blockchain experiments. Lee expressed confidence: “We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years.”
Trading Activity of BMNR Stocks
BitMine stocks (BMNR) are trading at $55.49, down significantly from their peak of $135. Nevertheless, BMNR ranks among the top 15 most traded US stocks with a trading volume of $42.43 million. Competitors like SharpLink Gaming do not display the same aggressive treasury-building strategy.
BitMine continues to confidently expand its assets in Ethereum, positioning the company as a significant player in the crypto market and highlighting the growing interest in Ethereum as a financial platform.
