Ethereum’s price hit $4,350 on Monday before settling near $4,300 during Tuesday’s Asian trading session.
Bitmine has become the first Ethereum treasury to surpass one million ETH in holdings, reaching 1.15 million tokens. The total value now stands at approximately $4.9 billion, marking a rapid increase within one week. The company’s ETH balance rose by 317,126 tokens in that period, adding nearly $2 billion to its valuation.
Bitmine launched its Ethereum treasury strategy on June 30 and has achieved multiple milestones sinceits inception. It has now secured the largest Ether treasury globally and holds 34% of the total Ethereum treasury market. SharpLink follows with just under 600,000 ETH, representing about 17% of collective holdings.
The company’s chairman, Tom Lee, stated, “In just a week, Bitmine increased its ETH holdings by $2 billion to $4.96 billion.” This rapid growth aligns with the firm’s pursuit of controlling 5% of all ETH. Ethereum treasury firms collectively now hold 2.9% of the total circulating ETH supply.
Furthermore, spot Ether ETFs currently control about 5% of the entire Ethereum supply. Only 12 companies in total operate an Ethereum treasury at significant scale. Bitmine’s share makes it a dominant player in this concentrated market.
Bitmine (BMNR) has become one of the most traded stocks in the United States by daily dollar volume. Fundstrat reported an average daily trading value of $2.2 billion for the stock. The share price surged over 1,300% since the Ethereum treasury initiative began.
The company’s stock closed 14.7% higher on Monday and reached $60 in after-hours trading, according to Google Finance. This price jump reflects strong market activity following its ETH accumulation announcement. Bitmine’s position now ranks it as the world’s third-largest overall crypto treasury, behind Strategy and Mara Holdings.
Tom Lee emphasized the strategic importance of this milestone, noting the speed of ETH accumulation. The company continues staking ETH to generate additional returns. This approach strengthens its long-term Ethereum treasury strategy and market influence.
Ethereum price reached $4,350 on Monday, its highest level in three and a half years. Prices retreated to $4,200 but recovered to $4,300 during Tuesday’s Asian trading session. ETH now trades just 12% below its all-time high.
Spot Ether ETFs recorded their largest single-day inflow since launch, exceeding $1 billion on Monday. This strong inflow indicates growing institutional interest in ETH. The momentum supports Bitmine’s aggressive Ethereum treasury expansion plan.
