BitMine Rockets 3,000% in 7 Days—ETH Treasury Move Ignites Frenzy

Talk about a moonshot. BitMine’s stock just pulled off a 3,000% weekly gain—yes, you read that right—after dropping an Ethereum treasury bombshell. Wall Street’s algo-traders are scrambling to keep up.

The ETH Factor

No details yet on how much ETH they’re hoarding, but the market’s treating this like a de facto crypto ETF approval. Retail FOMO meets institutional FOMO.

Short Sellers Get Rekt

The bears didn’t stand a chance. This surge vaporized $2.8B in short positions—poetic justice for anyone betting against crypto’s volatility.

Cynical Take

Meanwhile, traditional finance bros are still arguing about ‘store of value’ while their bonds yield less than a Celsius savings account. Priorities.

Even with profit-taking, the stock remained above $115—marking a weekly gain of over 3,200%. What caused this frenzy? BitMine announced a $250 million private placement to stack ethereum (ETH) as part of its reserves. 

The company also appointed crypto bull and Fundstrat strategist Tom Lee as Chairman. Lee declared the goal is to make BitMine the “MicroStrategy of Ethereum,” echoing Michael Saylor’s famous Bitcoin strategy.

Backing the move are crypto heavyweights Pantera Capital and Galaxy Digital, adding credibility to BitMine’s Ethereum bet. Traders and investors quickly piled in, betting on ETH’s growing role in DeFi, payments, and blockchain infrastructure.

Some are comparing the surge to a meme stock run, but others find long-term value. BitMine is working on the integration of Ethereum on the protocol level, which can open new settlement and payment solutions.

Trading cooled heading into the July 4 holiday, but all eyes remain on what’s next. Can the rally continue when markets reopen? For now, BitMine’s Ethereum gamble has grabbed the spotlight and may be a sign of how crypto is reshaping corporate balance sheets.

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