{"id":13809,"date":"2025-10-20T14:23:35","date_gmt":"2025-10-20T14:23:35","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitmine-stock-pops-8-on-3-24-million-eth-milestone\/"},"modified":"2025-10-20T14:23:40","modified_gmt":"2025-10-20T14:23:40","slug":"bitmine-stock-pops-8-on-3-24-million-eth-milestone","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitmine-stock-pops-8-on-3-24-million-eth-milestone\/","title":{"rendered":"BitMine stock pops 8% on 3.24 million ETH milestone"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">BitMine is riding an 8% stock surge fueled by its latest disclosure, which revealed a colossal Ethereum holding of 3.24 million tokens and a bold strategy to acquire even more during market downturns.<\/p>\n<div id=\"cn-block-summary-block_319ae4c05a9bb17177ddf43b99446cf6\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>BitMine stock rose over 8% after disclosing 3.24 million ETH holdings.<\/li>\n<li>The firm\u2019s total crypto and cash reserves now make it the world\u2019s largest Ethereum treasury and second-largest overall after Strategy.<\/li>\n<li>BitMine\u2019s stock ranks 33rd among U.S. equities by trading volume, reflecting growing investor appetite for crypto-linked corporations.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to a press release dated Oct. 20, BitMine Immersion Technologies aggressively added 203,800 Ether (ETH) to its corporate treasury during a significant market deleveraging event last week.<\/p>\n<p>BitMine <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/bitmine-immersion-bmnr-announces-eth-holdings-reaching-3-24-million-tokens-and-total-crypto-and-cash-holdings-of-13-4-billion-302588585.html\" target=\"_blank\" rel=\"nofollow\">said<\/a> the acquisition, valued at roughly $800 million, pushes the company\u2019s total ETH holdings to 3.24 million tokens. Chairman Thomas \u201cTom\u201d Lee framed the move as capitalizing on a \u201cprice dislocation,\u201d stating the firm seized the opportunity to accelerate its progress toward a previously stated goal it calls the \u201cAlchemy of 5%.\u201d<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe crypto market saw one of its largest deleveraging events ever last week and this put downward pressure on ETH prices. Open interest for ETH sits at the same levels as seen on June 30th of this year (ETH was $2,500). Given the expected Supercycle for Ethereum, this price dislocation represents an attractive risk\/reward,\u201d Lee said.<\/p>\n<\/blockquote>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\"><strong>BitMine\u2019s Ethereum bet reshapes corporate crypto strategy<\/strong><\/h2>\n<p>BitMine disclosed $219 million in unencumbered cash, a modest position of 192 Bitcoin, and a $119 million stake in Eightco Holdings, which it classifies under its \u201cmoonshots\u201d equity investments. These combined assets bring the firm\u2019s total crypto, cash, and moonshot holdings to a reported $13.4 billion, cementing its position as the world\u2019s second-largest corporate crypto treasury after Michael Saylor\u2019s Strategy.<\/p>\n<p>Notably, the company\u2019s latest disclosure also reshaped its equity performance. BitMine\u2019s stock <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/quotes\/BMNR\" target=\"_blank\" rel=\"nofollow\">climbed<\/a> more than 8% following the update, extending a months-long uptrend driven by aggressive ETH purchases and expanding investor interest in on-chain treasury models.<\/p>\n<p>According to Fundstrat data, BitMine is now the 33rd most traded stock in the United States, with average daily turnover of $2.1 billion, placing it just behind Costco and ahead of Eli Lilly among over 5,700 listed companies. Together with Strategy, the two firms now account for 88% of all global digital asset\u2013themed trading volume, a staggering concentration that reflects both liquidity demand and investor conviction in crypto-tied equities.<\/p>\n<p>BitMine\u2019s stock momentum appears tightly coupled to Ethereum\u2019s market recovery. According to crypto.news data, ETH has rebounded nearly 3% in the past 24 hours, reclaiming the $4,000 mark after last week\u2019s deleveraging shock that saw the broader crypto market shed billions in open interest.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BitMine is riding an 8% stock surge fueled by its latest disclosure, which revealed a colossal Ethereum holding of 3.24 million tokens and a bold strategy to acquire even more&hellip;<\/p>\n","protected":false},"author":1,"featured_media":8150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13809","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=13809"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13809\/revisions"}],"predecessor-version":[{"id":13810,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13809\/revisions\/13810"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/8150"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=13809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=13809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=13809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}