BitMine’s Ethereum Holdings Reach 3.5 Million Tokens
BitMine Immersion Technologies (BMNR) now holds 3,505,723 Ethereum (ETH) tokens. The company’s total crypto and cash assets are valued at $13.2 billion. This includes 192 Bitcoin, a $61 million stake in Eightco Holdings, and $398 million in cash. BitMine remains the largest corporate Ethereum treasury worldwide. It is the second-largest crypto treasury overall, behind Strategy Inc.
Progress Toward 5% of Ethereum Supply
BitMine’s 3.5 million ETH represents about 2.9% of the circulating Ethereum supply. The firm aims to hold 5% of all ETH tokens. Its stock ranks as the 48th most traded in the U.S., with an average daily volume of $1.6 billion. This liquidity attracts institutional investors. BitMine acquires crypto through Bitcoin mining and capital raising.
In the past week, BitMine purchased 110,288 ETH tokens. Chairman Tom Lee said this buying pace increased by 34% compared to the prior week. The purchase raised total ETH holdings above 3.5 million and boosted cash reserves to $398 million.
Institutional Support and Future Plans
BitMine has backing from major investors like ARK Invest, Founders Fund, and Thomas Lee. The company operates in Bitcoin mining, synthetic Bitcoin mining, and crypto advisory services. BitMine and the Ethereum Foundation recently co-hosted a summit for financial institutions at the New York Stock Exchange (NYSE).
Looking ahead, Tom Lee believes tokenizing assets on blockchains will drive Ethereum’s growth. He compared the impact of the GENIUS Act and SEC’s Project Crypto in 2025 to the end of the Bretton Woods system in 1971. Lee says Ethereum is in a “super cycle” over the next decade. BitMine is focused on reaching its goal of owning 5% of the Ethereum supply.
For more details, visit BitMine’s official announcement.
