BitMine’s $1.6B ETH Power Move: 833K Coins in 35 Days Leaves SharpLink in the Dust
Wall Street blinked—and BitMine just rewrote the crypto playbook. With a staggering 833,000 ETH scooped up in just over a month, the firm didn’t just edge past SharpLink—it bulldozed them. Trading volume? A cool $1.6 billion. So much for 'measured institutional adoption.'
The Accumulation Game
While traditional finance was busy overanalyzing P/E ratios, BitMine went full shark mode. Their buying spree would make even the most bullish ETH maxi blush—averaging nearly 24,000 coins per day. Guess who’s not getting a seat at the validator node now?
Volume That Speaks Volumes
That $1.6B figure wasn’t some synthetic ETF trick. Real coins, real chain, real 'we’re-not-here-to-play' energy. Meanwhile, hedge funds are still trying to explain stablecoin yield to their compliance departments.
Lesson learned? In crypto, you either stack hard or get left holding your treasuries. The only 'sharp link' here is BitMine’s trading desk—and it’s cutting through the competition like a hot wallet through butter.
BMNR attracts institutional interest
BitMine’s stock, trading under the ticker BMNR, has seen a sharp increase in market activity.
Data from Fundstrat shows that BMNR averaged $1.6 billion in daily trading volume over the past five days, ranking 42nd among all US-listed stocks, just behind ride-hailing giant Uber.
Alongside higher trading volumes, BitMine’s stock price has surged more than 300% since it launched its ETH strategy.
That rise appears driven by growing institutional interest, with key investors now including Cathie Wood’s Ark Invest and Bill Miller III, a senior advisor at both Miller Value Partners and Patient Capital Management.
Miller, who famously backed MicroStrategy’s Bitcoin pivot in 2020, sees a familiar pattern at BitMine.
According to him:
“What is intriguing is BitMine is set to be very profitable once the Company turns on ETH staking. In my experience, the best management teams make rational decisions based upon evidence, exhibit independent thinking, and allocate capital with an objective of earning returns above the cost of capital.”
