TL;DR
- BitMine has expanded its Ethereum holdings to over 1.5 million ETH, currently valued at $6.6 billion, up $1.7 billion in a single week.
- The company claims to have the largest corporate Ethereum treasury and the second-largest public digital asset treasury globally, trailing only Strategy.
- Led by Tom Lee, BitMine plans to continue accumulating ETH, targeting up to 5% of the total supply while supporting broader institutional adoption of crypto.
BitMine Immersion Technologies (BMNR) has revealed that it now holds 1,523,373 ETH, worth roughly $6.61 billion, reinforcing its position as the world’s largest corporate Ethereum treasury. The firm’s rapid accumulation of ether positions it as the second-largest public digital asset treasury after Michael Saylor’s Strategy, which holds $72 billion in bitcoin. BMNR’s stock recently became the 10th most liquid U.S. listing, with an average daily trading volume of $6.4 billion, drawing institutional investors interested in crypto-backed equities and blockchain innovation.
Under the leadership of Fundstrat founder Tom Lee, BitMine launched its ETH-focused treasury strategy in late June, accelerating purchases to reach 1.5 million tokens. Last week alone, the company added about 373,110 ETH, reflecting a $1.7 billion week-over-week increase. Lee emphasized that Ethereum represents a major macro trade for the next 10–15 years, citing blockchain adoption in AI, decentralized finance, and other institutional applications as key drivers of long-term value and utility.
Corporate Ether Treasuries Gain Momentum Globally
BitMine’s expansion mirrors a growing trend of companies establishing corporate ether treasuries. Firms like SharpLink Gaming and The Ether Machine have disclosed new or larger ETH positions amid regulatory clarity and supportive U.S. policies for institutional crypto products. These corporate treasury strategies offer investors exposure to blockchain networks without direct token ownership, appealing to both institutional and retail participants. Analysts highlight that ETH-focused treasuries may provide diversification benefits and hedge against traditional market volatility, making them increasingly attractive.
Stock Performance Reacts to Ether Volatility
Following the latest disclosure, BMNR shares dropped more than 7%, aligning with a broader pullback in ETH prices, which fell below $4,300 after nearing $4,800 last week. Rival digital asset companies also traded lower, with ETH-focused SharpLink Gaming down 3%, and Solana-centered firms Upexi and DeFi Development falling 6% and 9%, respectively.
Despite recent short-term volatility, BitMine continues to pursue its long-term ETH accumulation strategy, aiming to capture up to 5% of total supply while supporting institutional adoption of Ethereum. Analysts suggest these moves reinforce BitMine’s reputation as a major player in the corporate crypto space globally.
