Bitmine, a company -oriented company, announced that his shares have become one of the most important shares in the United States.
In his disclosure of 25 August, the company referred to fund stratan data showing that its shares registered an average daily trade volume of $ 2.8 billion during the five trade days ending on 24 August.
Bitmine placed Bitmine 20th rural, behind Coinbase on the 19th, while he surpassed JPMorgan on 27th and Palo Alto Networks on 21st of more than 5,700 listed companies.
This increase in commercial activity coincides with the scary of the company to Ethereum. Market data from Google Finance indicate that the shares of Bitmine during the transition have risen almost 1,000%, with a peak of $ 135 before he withdrew to $ 53.49 at the last check.
This showed that the increased liquidity has attracted stronger attention from investors and strengthened its volatility.
Ethereum -Accumulation
In addition to market performance, Bitmine also accelerates the accumulation of Ethereum.
The company revealed that it checked 1.71 million ETH from 24 August, worth $ 4,808 per token at the time of reporting. The balance also included 192 BTC and $ 562 million in available cashes, which yielded up to $ 8.82 billion to $ 8.82 billion.
That scale makes Bitmine worldwide the largest holder of Ethereum and the second largest business crrypto treasury in general, behind Strategy, which maintains a Bitcoin reserve worth around $ 71 billion.
The company started its Ethereum Treasury program on 30 June and completed its first phase less than two weeks later. Since then, the company has acquired aggressive ETH, proven by purchasing more than 190,000 ETH last week.
Chairman Thomas “Tom” Lee attributed the rapid structure to a strong institutional question, which allowed Bitmine to pick up $ 2.2 billion in just seven days.
According to him:
“This is the second week that Bitmine was able to attract capital at this pace from institutional investors, because we pursue the ‘Alchemy of 5%’ Eth. “
Lee emphasized that the Ethereum company regards as a long-horizon chance. He argued that the adoption of Wall Street and the integration of artificial intelligence with blockchain networks Ethereum can make the backbone of the next financial system.