He described the purchases as “buying ETH at a discount to the future,” arguing that both industries will remain critical drivers of innovation for decades.
He stated:
“We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years. Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum.”
Meanwhile, the company’s balance sheet extends beyond Ethereum.
Together, these assets bring BitMine’s total value to $11.6 billion.
BitMine’s growing Ethereum position has translated into significant stock market activity for the firm.
Fundstrat data shows that as of Sept. 26, BitMine ranked 26th among the most actively traded US equities, with an average daily trading volume of $2.6 billion. This ranks it ahead of Visa, the US-based payment giant, among the 5,704 US-listed stocks.
Among digital asset treasury companies, BitMine is also one of the most traded stocks.
The firm revealed that its shares, alongside those of Strategy, account for 84% of the total activity among the top 30 digital asset treasury companies. It added that its shares alone represent 34% of that percentage.
Speaking about these numbers, Lee said:
“At BitMine, we are leading our crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of our stock.”
