The goal has won the support of some of the biggest names in finance, from ARK Invest’s Cathie Wood and Pantera Capital to Founders Fund, Bill Miller III, Kraken, Digital Currency Group, and Galaxy Digital.
That institutional backing is fueling BitMine’s rapid accumulation. In the past week alone, the firm added almost 235,000 ETH, taking its total holdings to more than 2.6 million tokens – a trove worth roughly $11 billion.
Building an Ethereum Empire
While most corporate treasuries lean on Bitcoin, BitMine has carved out a different path. Its Bitcoin position remains tiny at just 192 BTC, but its Ethereum stack makes it the second-largest crypto treasury globally. Only Michael Saylor’s Strategy, with more than 640,000 BTC worth nearly $72 billion, sits above it.
BitMine has also built up strength outside of crypto, holding $436 million in cash and a $157 million equity stake in Eightco Holdings. This combination of liquidity and deep ETH reserves is designed to give the company long-term staying power.
“AI and Crypto Are the Supercycles”
Chairman Thomas “Tom” Lee, who also founded Fundstrat, argues that BitMine’s focus on Ethereum is no accident. He describes AI and crypto as the two defining investment themes of the next decade – and both, he insists, require neutral, public blockchains to scale.
“Ethereum remains the premier choice, with proven reliability and uptime,” Lee said, adding that he sees ETH as one of the most compelling macro trades for the next 10–15 years.
Wall Street Takes Notice
The bold bet hasn’t gone unnoticed by traditional markets. BitMine’s stock has surged in trading activity, ranking among the 30 most active U.S.-listed equities. Over the past week, it averaged $2.6 billion in daily trading volume, according to Fundstrat data.
For investors, the message is clear: while Strategy dominates the Bitcoin treasury narrative, BitMine is trying to make Ethereum its domain. With $11 billion already in the vaults and ambitions for much more, the firm is positioning itself at the center of Ethereum’s institutional era.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.