Bitcoin News Today: BitMine Surpasses $6.6 Billion in ETH Holdings as Stock Dips 14%

Generated by AI AgentCoin World
Monday, Aug 18, 2025 4:18 pm ET1min read
BTC
--
ETH
--
Aime RobotAime Summary

- BitMine becomes largest ETH holder with $6.6B holdings, but stock drops 14% amid crypto-stock alignment challenges.

- Plans to raise $24.5B for ETH expansion driven by institutional demand, as ETH ETFs see $2.8B weekly inflows.

- Thailand launches TouristDigiPay crypto payment sandbox to attract visitors amid 24-34% tourist declines in 2025 H1.

- Bitcoin falls 5% to $115k with highest futures OI since August, while SEC's liquid staking ruling adds market uncertainty.

- Ethereum's 50% monthly price surge followed by 9% drop triggers NFT marketcap decline to $8.1B, with CryptoPunks losing $300M.

BitMine’s Ether (ETH) holdings have surged to $6.6 billion, making it the world’s largest corporate holder of the asset, yet its stock has fallen 14% in the past week, highlighting the challenges of aligning crypto exposure with stock performance [1]. The firm is doubling down on its strategy, with plans to raise $24.5 billion to further expand its ETH holdings, driven largely by institutional demand [1]. Ether ETFs have also seen robust interest, with inflows reaching $2.8 billion last week and cumulative inflows for the year exceeding $11 billion [1].

Despite the institutional enthusiasm, the broader crypto market has shown mixed performance. Ethereum’s price climbed over 50% in the past month, reaching a peak of nearly $4,700 on Wednesday, before retreating to $4,260 by Monday [3]. This pullback has had a ripple effect on the NFT market, which saw a 12% decline in its market cap to $8.1 billion from $9.3 billion in less than a week [3]. The downturn coincided with a 9% drop in Ether’s price, and most of the top 10 NFT collections recorded value losses [3]. Notably, CryptoPunks, the largest NFT collection by market cap, lost $300 million in valuation, now worth $2.1 billion [3].

In a strategic move to attract international visitors, Thailand is set to launch a crypto payment sandbox for tourists called TouristDigiPay [1]. The program allows visitors to convert their crypto into Thai baht for electronic payments through regulated financial service providers. The initiative aims to counter a 24% decline in East Asian tourists and a 34% drop in visitors from China in the first half of 2025 [1]. Under the scheme, tourists must undergo KYC checks and open an account with a digital asset business, with monthly spending limits and no direct cash withdrawals permitted.

Bitcoin also faced downward pressure in the past week, dropping 5% to $115,000 from a high of $124,000 [2]. Futures open interest (OI) has risen to 720,000 BTC, the highest since early August, signaling heightened volatility [4]. The U.S. Securities and Exchange Commission (SEC) reportedly issued a ruling that could reshape the liquid staking market, though its full impact remains uncertain [6].

Meanwhile,

Block
, the parent company of Twitter, announced a major advancement in
Bitcoin
mining with the launch of Proto Rig and Proto Fleet. The initiative aims to improve mining efficiency and sustainability [7]. Earlier in the week, Bitcoin futures contracts on the CME hit an all-time high, with BTC briefly surpassing $35,000 [5].

Sources:

[1] https://cointelegraph.com/news/what-happened-in-crypto-today

[2] https://m.economictimes.com/markets/cryptocurrency/bitcoin-drops-5-to-115k-in-one-week-heres-why/articleshow/123358828.cms

[3] https://economictimes.indiatimes.com/topic/cryptocurrency-market

[4] https://uk.finance.yahoo.com/news/markets-today-crypto-declines-u-120000074.html

[5] https://www.investing.com/news/cryptocurrency-news/286

[6] https://finance.yahoo.com/news/sec-just-changed-game-liquid-134603901.html

[7] https://www.forbes.com/digital-assets/assets/bitcoin-btc/