Key Developments in BitMine's Treasury
BitMine Immersion Technologies (BMNR), a prominent entity in the Bitcoin and Ethereum Network sectors, has announced a significant milestone: its Ethereum (ETH) holdings have now surpassed 3,505,723 ETH tokens. This substantial accumulation contributes to the company's overall crypto, cash, and "moonshots" portfolio, which is now estimated to be worth $13.2 billion. This valuation encompasses the aforementioned ETH tokens, 192 Bitcoin, an investment of $61 million in Eightco Holdings, and $398 million in cash reserves.
With this latest acquisition, BitMine solidifies its position as the holder of the world's largest corporate Ethereum treasury. Globally, it ranks as the second-largest crypto treasury overall, following Strategy Inc.
The Strategic Pursuit of 5% ETH Supply
The current holdings of 3.5 million ETH represent approximately 2.9% of the total circulating Ethereum supply. BitMine's strategy is centered on the continuous accumulation of cryptocurrency, funded by its Bitcoin mining operations and capital raised. The company is actively working towards its objective of acquiring 5% of the total ETH supply, a goal referred to as the "alchemy of 5%." This ambition is rooted in a strong conviction regarding the long-term, structural growth potential of the Ethereum network.
BitMine's equity is also highly liquid, with its stock consistently ranking among the most traded in the U.S., averaging $1.6 billion in daily trading volume. This liquidity has proven attractive to significant institutional investors.
Industry Expert Endorsements and Diversified Operations
The company has consistently garnered support from institutional investors, including ARK, Founders Fund, and notable individual investor Thomas Lee. BitMine's business operations are multifaceted, encompassing Bitcoin mining, synthetic Bitcoin mining through hashrate products, and providing general cryptocurrency advisory services to other publicly traded companies.
The growing acceptance of Ethereum within institutional circles was recently underscored by a high-profile summit co-hosted by BitMine and the Ethereum Foundation for financial institutions at the NYSE building.
Demonstrating its proactive approach to accumulating assets during periods of market fluctuation, BitMine recently capitalized on a dip in ETH prices. Chairman Tom Lee confirmed the acquisition of 110,288 ETH tokens within the past week, marking a 34% increase in its purchasing pace compared to the preceding week. This strategic purchase propelled its total ETH holdings beyond the 3.5 million mark and increased its cash reserves from $389 million to $398 million.
Chairman Lee's Vision for BitMine's Future
Looking ahead, Chairman Lee emphasizes that the increasing interest from Wall Street in tokenizing assets onto the blockchain is a fundamental driver supporting their outlook that "Ethereum is a super cycle story over the next decade."
He drew a historical parallel, comparing the transformative impact of the GENIUS Act and the SEC's Project Crypto in 2025 to the end of the Bretton Woods system in 1971, which served as a catalyst for the evolution of modern financial markets. The immediate strategic priority remains the pursuit of the "alchemy of 5%" of the ETH supply, a target the firm is now more than halfway towards achieving.
BitMine's consistent accumulation of ETH, coupled with its high stock liquidity and robust institutional backing, positions it as a leader in the corporate cryptocurrency treasury landscape. With total assets reaching $13.2 billion and a clear strategy to increase its stake in the Ethereum ecosystem, the company is actively executing its long-term vision.