Particle.news
Download on the App Store
20 ARTICLES
·
last wk.

BitMine Confirms 3.24 Million ETH, Now Holds 2.7% of Circulating Supply

The company says the early-October selloff created a price dislocation it used to accelerate toward its 5% ETH supply target.

Image
Bitmine stock pops 8% on 3.24 million eth milestone
Image
Image

Overview

  • BitMine disclosed 3.24 million ETH on its balance sheet and $13.4 billion in combined crypto, cash and equity, including 192 BTC, $219 million in cash, and a $119 million stake in Eightco.
  • The firm said it bought about 203,800 ETH last week for roughly $800 million, part of roughly $1.6 billion in ether accumulated over the past two weeks during the market downturn.
  • Shares of BitMine rose about 8–9% after the holdings update, with the company now recognized as the largest publicly disclosed corporate Ethereum treasury.
  • On-chain trackers reported three large purchases totaling 379,271 ETH worth about $1.5 billion, with additional transfers to BitMine-linked wallets from OTC desks such as FalconX and BitGo.
  • Chairman Tom Lee disclosed he personally bought about $1.5 billion of ETH and cautioned that many digital asset treasuries are trading at or below net asset value.