Ethereum’s future may be rewriting financial history, and BitMine Immersion Technologies is moving faster than anyone else to stake its claim. BitMine Immersion Technologies has surged to the top of Ethereum treasuries, reporting crypto holdings valued at over $6.612 billion.
The announcement released on August 17th emphasizes the company’s increasing control over digital asset reserves. At $4,326 a token, the corporation currently owns 1,523,373 Ethereum and 192 Bitcoin. Because of this, BitMine is currently the biggest Ethereum treasury in the world and the second-largest global crypto treasury, after Strategy Inc.
The milestone came only weeks after BitMine launched its ETH treasury strategy on June 30th. By July 8th, the program was fully operational. Since then, the company has added more than 373,000 ETH in just six weeks, boosting its reserves by $1.7 billion.
Thomas “Tom” Lee of Fundstrat, Chairman of BitMine, emphasized this momentum. “In just a week, BitMine increased its ETH holdings by $1.7 billion to $6.6 billion,” Lee said.
Moreover, he noted the company’s leading role in treasury growth. He added, “We are leading crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of our stock.”
Besides growing its treasury, BitMine has become one of the most actively traded stocks in the United States. According to Fundstrat data, BMNR’s five-day average daily dollar volume reached $6.4 billion as of August 8th.
The stock has fallen 1.40%, to $57.00, according to Yahoo Finance, mostly due to a decline in the price of Ethereum. The value of Ethereum is at $4,354.15, a 4.61% drop in a single day.
Lee compared Ethereum’s long-term importance to the U.S. leaving the Gold standard in 1971, which reshaped Wall Street financially. He argued that blockchain, AI, and Ethereum’s infrastructure could drive a similar transformation in today’s global financial system. “We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years,” Lee stated.
BitMine’s aggressive accumulation signals a broader institutional push into Ethereum. Consequently, Ethereum is emerging as a leading digital asset and also as a backbone for future financial innovation.
