Bitmine's ETH Holdings Near 5%, Driving Stock Rise Amid Crypto Market Volatility

Bitmine Immersion Technologies stock rose 4% to $24.75 on Monday, outperforming the broader market as its Ethereum holdings approached 5% of total supply.

The company's treasury holds 5.9 million ETH tokens, valued at approximately $2,511 each, accounting for 4.9% of the total supply of 120.7 million tokens.

Bitmine's Chairman Thomas 'Tom' Lee stated that the company has acquired 53,501 ETH over the past week, bringing its weekly acquisition streak to 65 weeks since the inception of the ETH Treasury Strategy on June 30, 2025.

The unusual decoupling between crypto equities and underlying assets was also observed as Circle Internet Group stock surged 8% to $93.83, while Coinbase Global stock climbed 5% to $187.03, despite Bitcoin being down 0.5% to $78,652.35 and Ethereum down 1.7% to $2,463.58 over the past 24 hours.