Bitmine Technologies Becomes 10th Most Traded Stock in US Markets
Bitmine Technologies (NYSE: BMNR) has seen a surge in trading activity, becoming the 10th most traded stock in the U.S. on August 18 with a daily volume of $16.34 million, surpassing major companies like Tesla and Apple. This increase coincides with Bitmine's ongoing accumulation of Ethereum (ETH), now holding 1.52 million ETH valued at $6.44 billion.
Key Highlights
- BMNR is the largest Ethereum treasury firm, controlling 1.26% of total ETH supply.
- The firm's holdings increased from $4.9 billion to over $6.6 billion in one week.
- Bitmine aims to acquire 5% of Ethereum's supply, achieving 25% of this goal.
- Despite recent gains, BMNR stock is under selling pressure, correcting over 15% weekly after a 40% monthly rise.
- Cathie Wood’s ARK Invest sold 832,000 shares of BMNR, valued at approximately $50 million.