BitMine Scoops Up Over 300,000 ETH in One Week — Stock Soars 10% in Pre-Market Trading

TradingKey – On Monday, August 11, shares of BitMine Immersion Technologies (NYSE American: BMNR) surged more than 10% in pre-market trading, hitting $57, a one-month high. The rally follows BitMine’s aggressive accumulation of Ethereum (ETH), which has positioned the company as the largest ETH treasury in the world.

BMNR Stock Chart – Source: Google

BitMine Now Holds Over 1.15 Million ETH

Over the past week, BitMine increased its ETH holdings from 833,137 to 1,150,263 tokens, a jump of nearly 317,000 ETH. The total value of its ETH treasury rose from $2.9 billion to $4.96 billion, based on an average ETH price of $4,311.

BitMine now controls approximately 0.95% of Ethereum’s circulating supply, far surpassing other major holders like SharpLink Gaming (SBET) and Ether Machine, according to data from the Strategic Eth Reserve.

Top ETH Holders – Source: Strategic Eth Reserve

Institutional Backing and Retail Momentum

BitMine’s crypto accumulation strategy is gaining traction among both institutional and retail investors:

• South Korean retail investors have poured in $259 million into BitMine stock since July
• Cathie Wood’s ARK Investment Management recently acquired 4.77 million shares, valued at $182 million

BitMine is now the third-largest crypto treasury globally, trailing only MicroStrategy and MARA Blockchain, and ranks as the 25th most liquid U.S. stock, trading an average of $2.2 billion per day.