Key Highlights:

  • BitMine now holds 2.83 million ETH after buying another $821 million worth last week.

  • The company aims to accumulate 5% of all ETH in circulation.

  • Total crypto and cash reserves reached $13.4 billion.

BitMine Expands Ethereum Treasury

BitMine Immersion Technologies revealed that its Ethereum holdings climbed to 2.83 million ETH, cementing its status as the largest corporate holder of the cryptocurrency. The increase represents about 180,000 ETH added within a week, roughly $821 million in new purchases.

The firm’s total crypto and cash reserves now stand at $13.4 billion, placing it second only to Strategy’s massive Bitcoin holdings.

Long-Term Accumulation Strategy

Chairman Tom Lee reiterated BitMine’s goal to control up to 5% of Ethereum’s total supply, viewing ETH as central to future financial and AI infrastructure. The company’s balance sheet has swelled alongside ETH’s recent rally to around $4,570, which pushed its on-chain assets to record highs.

BitMine’s strategy underscores growing corporate confidence in Ethereum as a core treasury asset, following a broader trend of firms diversifying beyond bitcoin.

Read the full article on theblock.
Lark Davis – Crypto & Bitcoin Pump! [Now What?] (03.10.2025 Summary)
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Lark Davis – Crypto & Bitcoin Pump! [Now What?] (03.10.2025 Summary)