Ethereum Treasury Value Increased by 14 Percent

Recently attracting attention with its market activity, Ethereum continues to increase investor interest. BitMine shares gained approximately 14 percent in value during the day following the announcement of the proposal to increase the company's total share amount from 500 million to 50 billion.

BitMine Immersion Technologies (BMNR) has made significant progress while maintaining its leading position in Ethereum. The company's Chairman, Tom Lee, explained the rationale behind the increase in the number of shares as follows: Increasing the number of shares will enhance the company's flexibility regarding capital market operations, potential acquisitions, and possible stock splits in the future.

The positive response following Tom Lee's statement created a significant impact in the market. Lee noted in a video message that the stock prices are directly related to Ethereum (ETH). As the Ethereum price rises, the risk of BitMine shares becoming overvalued also increases. Lee stated that if the Ethereum price reaches $22,000, BitMine shares could theoretically rise to around $500. In more aggressive scenarios, he indicated that if ETH rises to $62,500, the share price could approach $1,500.

Expressing that most investors prefer a share price around $25, Lee emphasized that the flexibility of the stock structure is critically important. BitMine currently holds the largest Ethereum digital asset treasury in the world. The company is listed on the Nasdaq and possesses approximately 3.41 percent of the circulating Ethereum supply. According to its latest announcements, BitMine has added 44,463 ETH to its portfolio, increasing its total holdings to 4,110,525 ETH.

All these developments represent a significant turning point for both Ethereum and BitMine. Investors should closely monitor potential developments and market movements in the coming days.