Bitmine Holds 4.29% of Total ETH Supply
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy COIN?
Source: PRnewswire
- Significant ETH Holdings: Bitmine currently holds 5,180,131 ETH valued at $10.2 billion at a price of $2,336 per ETH, representing 4.29% of the total ETH supply, positioning Bitmine as a key player in the cryptocurrency market.
- Liquidity and Trading Volume: Bitmine's stock averages $625 million in daily trading volume in the U.S. market, ranking 173rd, indicating high investor interest and liquidity, which enhances its market influence.
- Institutional Investor Support: Bitmine has garnered support from top institutional investors, including Cathie Wood of ARK and Pantera, aiming to achieve its goal of acquiring 5% of ETH, which not only boosts the company's credibility but also lays a foundation for future growth.
- Launch of MAVAN Platform: The MAVAN platform launched by Bitmine focuses on Ethereum staking and has become a preferred choice for institutional investors, expected to generate $352 million in annual staking rewards, further solidifying its leadership position in the Ethereum ecosystem.
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Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 191.250
Low
230.00
Averages
361.63
High
440.00
Current: 191.250
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the onchain economy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. The Company offers products and services to various customer groups: consumers, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime trading, markets, base protocol and Coinbase wallet. The Company also provides market infrastructure in the form of exchanges for customers to trade spots and derivatives.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Price Surge: The Hyperliquid token (HYPE) has surged 62% in 2026 and an astonishing 1,127% since its launch in November 2024, indicating strong market demand and investor confidence as it reportedly accounts for over 70% of global perpetual futures trading.
- Regulatory Risks: Hyperliquid currently enjoys a first-mover advantage due to U.S. regulators' cautious stance on the perpetual futures market; however, as competition intensifies, it may face stricter regulations and market pressures that could affect its profitability.
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- Significant ETH Holdings: Bitmine currently holds 5,180,131 ETH valued at $10.2 billion at a price of $2,336 per ETH, representing 4.29% of the total ETH supply, positioning Bitmine as a key player in the cryptocurrency market.
- Liquidity and Trading Volume: Bitmine's stock averages $625 million in daily trading volume in the U.S. market, ranking 173rd, indicating high investor interest and liquidity, which enhances its market influence.
- Institutional Investor Support: Bitmine has garnered support from top institutional investors, including Cathie Wood of ARK and Pantera, aiming to achieve its goal of acquiring 5% of ETH, which not only boosts the company's credibility but also lays a foundation for future growth.
- Launch of MAVAN Platform: The MAVAN platform launched by Bitmine focuses on Ethereum staking and has become a preferred choice for institutional investors, expected to generate $352 million in annual staking rewards, further solidifying its leadership position in the Ethereum ecosystem.
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- Price Surge: The Hyperliquid token (HYPE) has surged 62% in 2026 and an astonishing 1,127% since its launch in November 2024, indicating strong market demand and investor confidence as it reportedly accounts for over 70% of global perpetual futures trading.
- Regulatory Risks: Hyperliquid currently enjoys a first-mover advantage due to U.S. regulators' cautious stance on the perpetual futures market; however, as competition intensifies, it may face stricter regulations and market pressures that could affect its profitability.
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- Significant ETH Holdings: Bitmine currently holds 5,180,131 ETH valued at $10.2 billion at a price of $2,336 per ETH, representing 4.29% of the total ETH supply, positioning Bitmine as a key player in the cryptocurrency market.
- Liquidity and Trading Volume: Bitmine's stock averages $625 million in daily trading volume in the U.S. market, ranking 173rd, indicating high investor interest and liquidity, which enhances its market influence.
- Institutional Investor Support: Bitmine has garnered support from top institutional investors, including Cathie Wood of ARK and Pantera, aiming to achieve its goal of acquiring 5% of ETH, which not only boosts the company's credibility but also lays a foundation for future growth.
- Launch of MAVAN Platform: The MAVAN platform launched by Bitmine focuses on Ethereum staking and has become a preferred choice for institutional investors, expected to generate $352 million in annual staking rewards, further solidifying its leadership position in the Ethereum ecosystem.
See More
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See More
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- Market Decline: The S&P 500 index fell by 0.41%, the Dow Jones Industrial Average dropped by 1.13%, and the Nasdaq 100 index decreased by 0.21%, reflecting investor concerns over escalating tensions in the Middle East, which dampened market sentiment.
- Oil Price Surge: WTI crude oil prices surged over 4% following exchanges of fire between the US and Iran in the Strait of Hormuz, raising inflation expectations and pushing bond yields higher, with the 10-year T-note yield reaching a five-week high of 4.46%.
- Strong Economic Data: US March factory orders rose by 1.5% month-over-month, exceeding expectations of 0.6%, marking the largest increase in four months, indicating economic resilience that could provide support to the stock market.
- Earnings Optimism: As of Monday, 82% of the 322 S&P 500 companies that reported Q1 earnings exceeded estimates, with projected earnings growth of 12% year-over-year for Q1, although excluding the technology sector, the growth is only 3%, highlighting performance disparities across sectors.
See More
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- Oil Price Surge Impact: Geopolitical tensions have driven WTI crude oil prices up by 3% to around $105 per barrel, leading to increased market volatility and pressure on major U.S. stocks, prompting investors to consider the long-term economic implications of sustained high oil prices.
- Energy Stocks Rally: Amid rising oil prices, energy producers such as Occidental Petroleum, APA Corporation, and Diamondback Energy saw their stock prices increase, indicating strong market demand for energy and a recovery in investor confidence in the sector.
- Travel Sector Decline: Shares in travel firms, particularly Norwegian Cruise Line, plummeted due to missed Q1 expectations, reflecting market concerns about the recovery of the travel industry and potentially impacting future investment decisions.
- Cryptocurrency Market Rebound: Reports of lawmakers possibly reaching a compromise on key digital asset legislation have led to strong performances from crypto-linked firms like Coinbase Global, Circle Internet Group, and Robinhood Markets, with Bitcoin surpassing $80,000 for the first time, signaling renewed investor interest in crypto assets.
See More
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- Push for Legislation: Companies like Coinbase are urging Congress to advance the CLARITY Act, which aims to resolve the ongoing dispute between banks and crypto regarding stablecoin rewards, and its passage could help standardize the stablecoin market.
- Reward Mechanism Changes: The proposal bans crypto firms from offering yield-like rewards for holding stablecoins but allows rewards when users spend or utilize stablecoins, potentially impacting crypto companies' customer acquisition strategies and market dynamics.
- Bipartisan Cooperation Outlook: Despite existing disagreements within the Senate Banking Committee, Chair Tim Scott indicated that they are nearing consensus and expect a bipartisan vote in May, reflecting the growing influence of the crypto industry in policy-making.
- Cautious Banking Industry Response: The banking sector's reaction to the new text remains unclear, with some industry insiders concerned about potential loopholes unfavorable to banks; if these concerns sway Republican votes, the bill's passage could be jeopardized.
See More
