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Bitmine Smashes Records: $2.9B Ethereum Treasury Now Largest in Crypto History
Bitmine Smashes Records: $2.9B Ethereum Treasury Now Largest in Crypto History
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Move over, institutional whales—Bitmine just parked a $2.9 billion ETH battleship in crypto waters. The mining giant's treasury now dwarfs competitors, signaling either extreme conviction or a very expensive HODL experiment.
Why this matters: Ethereum's supply is getting scarcer by the day, and Bitmine's vault effectively locks up a chunk of the network's liquid assets. Traders are left wondering if this is a bullish masterstroke or just another case of 'number go up' theater.
Cynical take: Wall Street still can't decide if ETH is a security, but Bitmine's accountants are clearly treating it as one hell of a balance sheet flex.
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