Bitmine has become the first business treasure chest to surpass 1 million Ethereum (ETH) in Holdings after the stock has climbed 1.17 million ETH on August 15, with a value of more than $ 5 billion.
The company added 317.126 tokens worth around $ 2 billion in a few weeks. Bitmine chairman Tom Lee said on August 4 that the company intends to move “Lightning speed” In his aim to acquire 5% of the total supply of ETH.
In particular, the company launched its treasury strategy on 30 June and grew from zero to more than 1 million ETH in just over a month.
Treasury Competition speeds up
Bitmine now leads the Ethereum Treasury sector and surpasses the 728,804 ETH holdings of Sharplink Gaming.
Sharplink reported on August 15th That it has collected more than $ 2.6 billion in capital for ETH acquisitions and has deported nearly 100% of its participations, generating cumulative rewards of approximately 1,326 ETH.
Data of the Strategic ethrenerve Lists 71 ETH-oriented Treasury companies jointly hold 3.7 million ETH with a value of $ 16.3 billion, which represents 3.06% of the total offer.
These companies indicate plans About $ 27 billion in the direction of extra ETH acquisitions, which could push business ownership up to 10% of the total supply.
Bitmine submitted a change to expand its AT-the-Market stock program with $ 20 billion to finance continuous acquisitions.
The aggressive strategy has caused significant share performance, with shares that increase to more than 1,100% and an average daily trade volume of $ 2.2 billion, that the 25th of all shares with the American is recorded.
Institutional adoption context
The rapid accumulation can be a sign of growing institutional recognition of Ethereum as a fundamental infrastructure for future financial systems.
The broad view of the company can be in accordance with the understanding of Bitmine that protects ETH and generates the network, while companies are tailored to the success of Ethereum in the long term.
Cathie Wood’s Ark will invest on July 21 shifted around $ 175 million From traditional crypto shares such as Coinbase and Robinhood to Bitmine. The move shows institutional trust in Ethereum Treasury strategies.
Bitmine’s performance positions it as the third largest crypto treasure box worldwide behind Bitcoin-oriented strategy and Mara Holdings.
