BitMine buys 833k ETH in 35 days to leapfrog SharpLink, stunning Wall St with $1.6B trading volume
BitMine Immersion Technologies, the largest corporate holder of Ethereum, revealed that its total holdings are now at 833,137 ETH valued at over $2.9 billion, according to an Aug. 4 statement.
This development places BitMine far ahead of previous frontrunner SharpLink, which reportedly holds 438,000 ETH.
With this latest acquisition, BitMine has also climbed to third place globally in overall crypto treasuries, trailing only behind Bitcoin-focused entities Strategy (formerly MicroStrategy) and BTC miner Marathon Digital Holdings.
Tom Lee, Chairman of BitMine’s board and co-founder of Fundstrat Global Advisors, said:
“BitMine moved with lightning speed in its pursuit of the ‘alchemy of 5%’ of ETH growing our ETH holdings to over 833,000 from zero 35 days ago. We have separated ourselves among crypto treasury peers by both the velocity of raising crypto NAV per share and by the high liquidity of our stock.”
BMNR attracts institutional interest
BitMine’s stock, trading under the ticker BMNR, has seen a sharp increase in market activity.
Data from Fundstrat shows that BMNR averaged $1.6 billion in daily trading volume over the past five days, ranking 42nd among all US-listed stocks, just behind ride-hailing giant Uber.
Alongside higher trading volumes, BitMine’s stock price has surged more than 300% since it launched its ETH strategy.
That rise appears driven by growing institutional interest, with key investors now including Cathie Wood’s Ark Invest and Bill Miller III, a senior advisor at both Miller Value Partners and Patient Capital Management.
Miller, who famously backed MicroStrategy’s Bitcoin pivot in 2020, sees a familiar pattern at BitMine.
According to him:
“What is intriguing is BitMine is set to be very profitable once the Company turns on ETH staking. In my experience, the best management teams make rational decisions based upon evidence, exhibit independent thinking, and allocate capital with an objective of earning returns above the cost of capital.”
The post BitMine buys 833k ETH in 35 days to leapfrog SharpLink, stunning Wall St with $1.6B trading volume appeared first on CryptoSlate.
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
How much CPO demand will Nvidia Rubin Ultra generate? Bernstein: Optical value per Pod will increase fivefold
Bernstein believes that the co-packaged optics (CPO) and fiber demand driven by Nvidia's Rubin Ultra architecture will surge significantly, with the optical content per Pod rising from $1 million to $5.4 million. This will propel the size of Nvidia's optical ecosystem market to $46.8 billion by 2028 (a 91% annual increase). Although the industry faces supply bottlenecks with InP substrates, the outlook remains positive. The institution reiterates its “outperform” rating for Lumentum, Coherent, and Ciena.
UBS Q3 implements a two-way strategy with gold options, heavily invests in technology stocks, and builds positions in SK Hynix (SKHY.US)
UBS Group (UBS.US) has submitted its Q3 holdings report (13F) as of September 30, 2026.
SpaceX (SPCX.US) reportedly attempts “de-Nvidiaization” at the rack level: developing Kessel cabinets to bypass L6 compute boards, purchasing only chips
SemiAnalysis: SpaceX has developed its own Kessel cabinet, bypassing Nvidia's L6 cards to provide more options for manufacturing its own hardware.
$3.7 billion “data center power equipment prepayments” abandoned! What did "the most active buyer of gas turbines", SoftBank, see?
In the second quarter of fiscal year 2026, SoftBank reported a net loss of $7.1 billion, primarily due to a $3.7 billion impairment charge from a $9.5 billion advance payment for power generation equipment for US data centers—of which about $2.9 billion was non-refundable and effectively lost. The CFO admitted that SoftBank placed orders before the project plan was finalized, and is now conducting a comprehensive review of its procurement strategy. "The most aggressive purchaser of gas turbines has now written off the deposit in this way."
Crypto prices
More
