TL;DR
- BitMine is the global leader in Ethereum reserves with over three and a half million ETH.
- The company aims to reach 5% of the total Ethereum supply by 2025.
- Institutional investors such as ARK Invest and Pantera support its accumulation strategy.
BitMine Immersion Technologies (NYSE American: BMNR) reported that its combined holdings of cryptocurrency, cash, and strategic equity positions now total $13.2 billion. The figure places the firm as the world’s largest Ethereum holder and second among corporate entities in overall crypto reserves.
The company disclosed that its portfolio includes 3,505,723 Ethereum (ETH), each valued at $3,639, along with 192 Bitcoin (BTC), a $61 million equity position in Eightco Holdings (NASDAQ: ORBS), and $398 million in unrestricted cash.
The “Alchemy of 5%” Strategy
BitMine currently controls 2.9% of Ethereum’s circulating supply. During the past week, the company purchased 110,288 ETH, representing a 34% increase from its previous acquisition pace. Chairman Thomas “Tom” Lee, also known for his role at Fundstrat, described the accumulation as a deliberate move to reach the firm’s stated goal.
“We acquired aggressively into the dip,” Lee said. “This purchase moves us more than halfway toward our goal of reaching 5% of Ethereum’s total supply, our ‘alchemy of 5%’ milestone.”
The company’s accumulation model rests on the premise that Ethereum will become the central structure for tokenized financial assets. Lee compared the growing adoption of blockchain-based securities to the end of the Bretton Woods system in 1971, suggesting a comparable realignment of global finance.
Institutional Support and Market Activity
BitMine’s expansion is backed by a group of established institutional investors. Among them are ARK Invest, Founders Fund, Bill Miller III, Pantera Capital, Kraken, Galaxy Digital, and Digital Currency Group (DCG).
The company’s stock, traded under the symbol BMNR, has experienced a surge in market activity. Fundstrat data indicates an average five-day trading volume of $1.6 billion, ranking it as the 48th most traded equity in the United States. The company’s shares now trade more actively than Arista Networks and follow closely behind Lam Research in total volume among U.S.-listed securities.
Leadership in Ethereum Holdings
BitMine now leads all global entities in Ethereum reserves, surpassing both institutional and private holders. Only Strategy Inc. (MSTR), with its 641,692 Bitcoin, maintains a larger overall crypto treasury by value.
In a recent event hosted in collaboration with the Ethereum Foundation at the New York Stock Exchange, BitMine reaffirmed its stance on institutional adoption and regulatory cooperation. The firm referenced legislative and regulatory efforts such as the GENIUS Act and the SEC’s Project Crypto, viewing them as foundational steps toward financial systems defined by on-chain verification and tokenized liquidity.
BitMine’s position in the digital asset market reflects a calculated approach centered on accumulation, liquidity management, and anticipation of institutional entry into blockchain-based finance.
The company continues to expand its holdings in alignment with its goal of securing 5% of the total Ethereum supply, a target that signals both long-term commitment and a firm conviction in blockchain’s role in the structure of future capital markets.
