Bitmine Pass Ethereum Treasury: 1.2M ETH, Get Plan to Raise $20B
Bitmine don tey de first company we don gather pass 1.2 million ETH inside im corporate Ethereum treasury — wey worth about $4.9 billion — pass wetin SharpLink Gaming get wey na 604,026 ETH. Since dem launch im Ethereum treasury for June 30, Bitmine don increase im holdings from 163,000 to 1.2 million ETH for one month, add 317,000 ETH within one week as corporate FOMO dey rise ahead of expected rate cuts. Im Ethereum treasury now stand for 34% of all corporate ETH holdings and 2.9% of total ETH supply, compare to spot Ether ETFs wey dey about 5%. Bitmine stock (BMNR) get record daily trading volumes wey pass $2.2 billion — e rank among top 25 most liquid US stocks — and e hit $9.27 billion for one session. Di company plan to raise $20 billion in equity to buy up to 4.5 million more ETH (pass 5% of supply) and dem dey explore to stake im treasury for yield. Meanwhile, SharpLink Gaming launch $400 million direct offering to grow im 604,026 ETH reserves. These moves show say corporate confidence in ETH as strategic asset dey grow.
Bullish
Bitmine dem dey aggressively dey pile up ETH and dem get plans to raise $20 billion for extra 4.5 million ETH, dis one show say institution demand strong, e go reduce how much supply dey available and e go boost how market dey feel. Record trading volumes for BMNR and company FOMO about rate cuts still dey show better hope. These tori fit make price smallly rise as buyers dey soak market liquidity. For long term, di waka go stake company treasury fit make outflows stable and provide yield, wey go support steady ETH demand. Together, these factors suggest say ETH get better future.