Official: BitMine is the #2 Crypto Treasury Company

It is official. BitMine is the second biggest crypto treasury company in the world, having overtaken MARA holdings in the past week. 

BtMine’s ETH holdings are valued at $6.6 billion. It holds 1.52 million ETH tokens and is the biggest ETH treasury company. 

MARA moves down to third place with just over $6 billion worth of BTC. Tom Lee, the chairman of BitMine, now has only Michael Saylor’s Strategy ahead of him. However, Strategy is a long way ahead with nearly 629k BTC tokens valued at $74 billion.

"In just a week, BitMine increased its ETH holdings by $1.7 billion to $6.6 billion (adding over 373,000 tokens from 1.15 million to 1.52 million tokens), as institutional investors have expressed interest and support for our pursuit of the 'alchemy of 5%' of ETH," said Tom Lee of Fundstrat, Chairman of BitMine. 

"As we continue to say, we are leading crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of our stock."

BitMine is one of the most widely traded stocks in the US right now. It's seeing a staggering $6.4 billion in shares traded on an average day, making it the 10th most traded stock in the entire country. To put that in perspective, it's currently being traded more heavily than giants like Alphabet and JPMorgan.

Last week, three whale addresses were spotted on Arkham purchasing $280 million worth of ETH. These addresses, identified by Arkham’s proprietary AI and labelled as suspected BitMine wallets, are evidence of even more aggressive buying from Tom Lee.

BitMine was recently identified and labelled as an entity on the Arkham Intel platform which means traders can now track BitMine inflows, outflows and holdings and use this data to inform their trading decisions on the Arkham Exchange.