BitMine Makes Massive Ethereum Play, Cementing Its Lead as Top Corporate ETH Holder
The crypto industry’s largest Ethereum treasury just got even bigger. BitMine Immersion Technologies, a publicly traded firm known for its aggressive accumulation strategy, has boosted its ETH reserves to an estimated $13 billion after a substantial purchase last week.
According to the company, BitMine added 179,251 ETH – roughly $823 million at current prices – bringing its total stash to about 2.83 million coins. The firm reportedly bought in at an average of $4,535 per ETH, slightly below Ethereum’s present trading price near $4,625, signaling that its timing was well-calculated during recent volatility.
The move strengthens BitMine’s position as the largest Ethereum-holding company in the world, surpassing every other corporate treasury in the asset’s ecosystem. Its nearest competitor, SharpLink Gaming, maintains just under $4 billion in ETH, while Bitcoin-focused Strategy continues to lead the entire crypto corporate landscape with around $80 billion in BTC.
BitMine’s financial footprint stretches well beyond Ethereum. The company also owns 192 Bitcoin, valued at nearly $24 million, along with equity stakes worth $113 million in Eightco Holdings, and an additional $456 million in cash reserves. Following the announcement, BMNR shares jumped more than 5% to $59.78, continuing a month-long rally that has lifted the stock 37%.
Chairman Tom Lee said the company’s expansion aligns with strategic conversations held at Token2049 Singapore, where Ethereum’s future role in both finance and artificial intelligence took center stage. “It’s becoming increasingly clear that the next great convergence will be between AI and crypto,” Lee noted, describing BitMine’s Ethereum strategy as a long-term bet on that intersection.
By deepening its Ethereum exposure, BitMine is positioning itself at the heart of what many analysts see as a coming wave of institutional adoption – one where blockchain and AI technologies merge to shape the next decade of digital innovation.
