The most coins held yet the worst situation? Bitmine holds 560,000 Ethereum, but its stock price has evaporated by 80% in less than a month.

Bitcoin mining company Bitmine Immersion Tech has continued to buy Ethereum this month, currently holding 566,000 coins, ranking first among listed companies. However, in terms of stock price, it seems to be moving in the opposite direction, with nearly 80% evaporated in less than a month. (Background: Palantir founder Peter Thiel acquired a 9.1% stake in BitMine, optimistic about betting on Ethereum) (Supplementary background: The "female stock god" enters Ethereum! ARK Invest invested $182 million in BitMine; SharpLink Gaming bought another 80,000 ETH) According to the latest data from Strategicethreserve, among companies buying Ethereum as reserves, Bitmine Immersion Tech currently ranks first, with open interest reaching 566,000 coins (worth approximately $2.1 billion). ARK Invest's $182 million investment in BitMine was made just last week on the 22nd, and the company announced that it has received this investment from Cathie Wood's investment firm ARK Invest, which allowed the "female stock god" to acquire 4,773,444 shares of common stock in BitMine. BitMine stated that the funds will be used entirely for investing in Ethereum. BitMine was originally a Bitcoin mining company. Starting from June 2025, BitMine announced that it would make Ethereum its primary treasury reserve asset and accelerate ETH accumulation through a $25 million private sale (completed on July 3). We are pleased that Cathie Wood has made a significant investment in BitMine; she sees opportunities for exponential growth, and our goal is to achieve a 5% share of ETH. BitMine is currently also supported by institutions such as Founders Fund and chaired by Tom Lee, founder of Fundstrat, who is known as a Wall Street genius. BitMine's stock price fell 11.78% in one day, but despite holding a large reserve of Ethereum and ETH prices briefly breaking through $3,900 yesterday, BitMine's stock price has continued to decline since reaching a peak in early July (peaking at $161, evaporating nearly 80% in less than a month), closing down 11.78% on the 28th, and dropping another 13.1% after hours. If someone sees this company as the Ethereum version of MicroStrategy, expecting the stock price to benefit from the continuous rise in ETH prices, but they did not enter the market early enough, then these investors are likely to be trapped or become dumb buyers who sold at the high points. BitMine's trend over the past 24 hours BitMine's trend over the past six months Ethereum falls below $3,800 In terms of ETH price, Ethereum continued to fluctuate downward after touching $3,941 yesterday, reporting $3,745 before the deadline, down 3.65% in nearly 24 hours. Whether it can make another strong push to break through the $4,000 barrier has become a target of market attention. Related reports Investigating TOM LEE, from Wall Street celebrity to Ethereum MicroStrategy leader A special article by Gao Chongjian | A decade of Ethereum, a century of humanity: the tenth anniversary of Ethereum's genesis The "female stock god" enters Ethereum! ARK Invest invested $182 million in BitMine; SharpLink Gaming bought another 80,000 ETH <Holding the most ETH but suffering the most? Bitmine holds 560,000 Ethereum, its stock price evaporated by nearly 80% in less than a month> This article was first published in the BlockTempo "BlockTrend - the most influential blockchain news media."