- BitMine secures 1.71M ETH, making Ethereum a leading corporate treasury asset.
- BMNR stock ranks 20th in U.S. liquidity with $2.8 billion in daily trading volume.
- Institutional backing signals Ethereum’s growing role in long-term corporate finance.
BitMine Immersion Technologies (NYSE: BMNR) has officially announced its total crypto and cash reserves surpassing $8.82 billion as of August 24, 2025. The company holds 1,713,899 Ethereum (ETH) tokens valued at $4,808 per ETH, 192 Bitcoin (BTC), and $562 million in unencumbered cash. This development positions BitMine as the largest Ethereum treasury holder globally and the second-largest corporate crypto treasury behind Strategy Inc., which owns 629,376 BTC worth $71 billion.
The company’s Ethereum-focused treasury strategy began on June 30. Since then, it has executed large-scale ETH acquisitions, including the addition of over 190,500 ETH tokens valued at approximately $2.2 billion in the past week. This aggressive accumulation strategy demonstrates a notable institutional shift in how Ethereum is perceived and utilized, signaling a move beyond its traditional role within DeFi and smart contract ecosystems.
The holdings of BitMine are a growing trend where Ethereum is becoming a major constituent of long-term corporate treasuries. With liquidity pressures increasing due to large-volume purchases, the potential for ETH to experience price pressure from reduced market supply is also growing. The company’s goal of holding 5% of the total amount of ETH in circulation also highlights the growing movement to use Ethereum as a treasury-type asset.
NYSE-Listed Status Boosts Ethereum’s Wall Street Legitimacy
BitMine Immersion’s listing on the NYSE American exchange adds a layer of legitimacy to Ethereum’s place in regulated financial markets. The company’s stock is now one of the most heavily traded in the United States, with a five-day average daily dollar volume of $2.8 billion as of August 24. It ranks 20th in the country by liquidity, trailing Coinbase and surpassing firms like JPMorgan and Palo Alto Networks.
The net asset value (NAV) per share of the crypto company has increased greatly, rising to $39.84 on August 24, as compared to July 27, when it was only $22.84. The 221,515,180 fully diluted ordinary shares have led to such growth in NAV as an indicator of investor confidence and institutional demand, attributed to the emerging position of Ethereum in portfolio diversification.
According to BitMine Chairman Thomas Lee of Fundstrat, the firm has strived to make its plans in line with macro themes, such as a trend towards greater overlap between blockchain, artificial intelligence, and financial systems. The fact that Ethereum can potentially become a long-term macro trade makes sense, Lee says, because we see a Wall Street infrastructure and AI applications adapting blockchain technologies at an increasing pace.
Related: BitMine Boosts ETH Treasury to $6.6B With Latest Buy of 1.5M ETH
Regulatory Developments and Investor Backing Reinforce Strategy
BitMine’s positioning is further bolstered by regulatory tailwinds. The GENIUS Act and the SEC’s Project Crypto are being likened to historical financial shifts such as the 1971 termination of the gold standard under Bretton Woods. These developments are viewed as foundational steps toward modernizing the financial system and incorporating blockchain-based assets like Ethereum into mainstream finance.
The company has been supported by a list of well-positioned institutional investors. Its backers are ARK Invest (Cathie Wood), MOZAYYX, Founders Fund, Bill Miller III, Pantera Capital, Kraken, Digital Currency Group (DCG), and Galaxy Digital. This fact emphasizes the validity of the ETH purchasing strategy implemented by BitMine and other basic indicators of institutional crypto adoption.
