Ethereum Treasury Expands as Tom Lee’s Bitmine Adds 99,000 ETH

• Bitmine now controls 3.37% of Ethereum supply, advancing its goal to reach 5% ownership.
• The firm holds over 4.06 million ETH, $1B cash, and total assets valued at $13.2 billion.
• BMNR ranks among the top traded U.S. stocks as investor interest in Ethereum treasuries grows.

Bitmine Immersion Technologies declared that it currently owns 3.37% of the circulating supply of Ethereum, a significant milestone towards its treasury plan. The company explained that position was the outcome of gradual accumulation and not a one-time deal. The management claimed that the milestone keeps Bitmine on schedule to achieve its claimed objective of owning 5% of all Ethereum, which it calls the Alchemy of 5%.

The update was report on Monday along with a general disclosure of the capital structure and crypto exposure of Bitmine. On Dec. 21, the company held 4,066,062 ETH. The tokens were estimated to be worth $2,991 each. Bitmine also reported an ownership of 193 Bitcoin and about $1.0 billion in cash.

Those data make Bitmine one of the best-capitalized crypto treasury companies in the market. The company reported that its crypto assets, cash and opportunistic investments add up to $13.2 billion. That value encompasses a social share of three-two million dollars in Eightco Holdings. It also demonstrates smaller digital assets which the firm classifies as the speculative or early stage opportunities.

Bitmine Leads Ethereum Treasuries as Accumulation Accelerates

The current circulation rate of Ethereum is estimated at 120.7 million tokens. According to that amount, the world’s largest known Ethereum treasury holder has become Bitmine. The company is general presently with greater ETH than any other corporate or institutional organization. Bitmine is ranked second in the general crypto treasury list, with Strategy Inc., with a bigger number of Bitcoin more than 671,000, holding the second rank.

The accumulation rate has increased manyfold in recent months. Bitmine has announced that it had added 98,852 ETH within the past one week. This urge took the aggregate holdings beyond its four-million-token mark. The company took just five and a half months, after officially implementing their Ethereum based treasury strategy to hit this threshold.

Also Read: Ethereum Price Stalls Near $3,000 as $3,060 Resistance Blocks Upside Momentum

According to Tom Lee, chairman of Fundstrat, the rate of accumulation is a sign of growing institutional interest in having exposure to Ethereum. He referred to Bitmine as a shift of traditional finance into blockchain infrastructure. Some of the areas that Ethereum has been proliferated in are given by Lee as tokenization, decentralized finance, and on-chain settlement. 

BMNR Ranks Among Most Traded U.S. Stocks

Bitmine also highlighted movements in the public equity markets. The company claimed to be among the leaders in the pace of growth in crypto treasury peers, specifically regarding the percentage increase in the crypto net asset value per share. It also cited high liquidity of the stock traded publicly.