BitMine, an Ethereum-focused firm, announced that its shares have become one of the most heavily traded equities in the United States.

In its Aug. 25 disclosure, the company referenced Fundstrat data showing that its stock recorded an average daily trading volume of $2.8 billion over the five trading days ending Aug. 24.

That figure placed BitMine 20th nationwide, behind Coinbase at 19th, while surpassing JPMorgan at 27th and Palo Alto Networks at 21st out of more than 5,700 publicly listed companies.

This surge in trading activity coincides with the company’s pivot toward Ethereum. Market data from Google Finance indicates that BitMine’s stock soared nearly 1,000% during the transition, reaching a peak of $135 before retreating to $53.49 at the latest check.

This showed that the heightened liquidity has drawn stronger investor attention and amplified its volatility.

Ethereum accumulation

Beyond market performance, BitMine is also accelerating its accumulation of Ethereum.

The firm revealed that, as of Aug. 24, it controlled 1.71 million ETH, valued at $4,808 per token at the time of reporting. Its balance sheet also included 192 BTC and $562 million in available cash, bringing total holdings to $8.82 billion.

That scale makes BitMine the largest holder of Ethereum globally and the second-largest corporate crypto treasury overall, behind Strategy, which maintai

Go to Source to See Full Article
Author: Oluwapelumi Adejumo

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details