- BitMine expanded its Ethereum treasury by 373,110 ETH, raising holdings to $6.6B.
- The firm ranks as the largest Ethereum corporate holder and No. 2 global crypto treasury.
- Tom Lee confirms BitMine’s target of 5% ETH supply backed by strong institutional support.
Making an innovative move, BitMine Immersion Technologies pushed its total holdings in the Ethereum Treasury to $6.6 billion, with the latest purchase of over 1.5 million ETH. In an official announcement, the firm stated that its crypto holdings comprise 1,523,373 ETH at 4,326 per ETH, 192 BTC, and $80 million of unencumbered cash. Notably, the latest buy brings its total holdings to $6.612 billion. The announcement marks a $1.7 billion increase from the previous week, when the company purchased 373,110 ETH. This growth makes BitMine the world’s largest Ethereum corporate holder and the second-largest overall crypto treasury, behind Strategy Inc.
BitMine Surpasses SharpLink in ETH Accumulation
BitMine confirmed that its total Ethereum stash represents over 1% of the cryptocurrency’s circulating supply. Reportedly, with its fast accumulation strategy, implemented in June 2025, teh firm has become the top contender in corporate Ethereum Treasuries.
Chairman Tom Lee highlighted that BitMine plans to acquire up to 5% of the Ethereum supply and believes that institutional backing will continue to support its aggressive accumulation strategy. Within two months of accumulation, the firm has surpassed rivals like SharpLink Gaming and The Ether Machine.
Source: X
Further, BitMine’s stock also achieved prominence, ranking 10th amongst the U.S.-listed equities by average daily trading volume of $6.4 billion. Despite this milestone, the company shares initially dropped slightly following the announcement, although they are more than 600% higher than they were in January.
Institutional Investors Support BitMine Strategy
Notable institutional investors of BitMine’s Ethereum reserves include ARK’s Cathie Wood, the Founders Fund, Pantera Capital, and Galaxy Digital. This institutional engagement signifies the trust in Ethereum in international finance.
Tom Lee emphasized that Ethereum stands out as a long-term investment as artificial intelligence (AI) and Wall Street embrace blockchain infrastructure. Lee states that such a structural shift positions Ethereum at the center of the next financial era. Moreover, by facilitating the GENIUS Act and the SEC’s Project Crypto initiative, institutional interest has gained momentum as crypto-friendly regulations governed the use of digital assets.
Following close on the heels of BitMine, SharpLink Gaming also publicized its ETH purchases. The world’s largest publicly traded company to adopt Ethereum as its primary treasury reserve asset has about 598K ETH, while Coinbase and Bit Digital fall behind with 120K ETH and 80K ETH, respectively. Collectively, corporate treasuries and Ethereum ETFs now own over 8% of Ethereum’s supply, highlighting the increasing institutional interest in the asset.
Related: BTCS Makes History With First Ethereum Dividend Payout
Ethereum’s Crypto Treasury Growth
With a steady ETH accumulation, BitMine has announced plans to raise an additional $20 billion to achieve 5% of the ETH supply, indicating a trend towards digital asset treasuries, which offer investors indirect access to blockchain networks.
Further, Ethereum’s fundamentals have strengthened with a surge in investor interest. With the Pectra upgrade in May 2025, which enhanced Layer-2 transaction scaling, staking, and data throughput, Ethereum’s price increased by 139%, supporting BitMine’s views on the long-term value of the asset. Moreover, BitMine’s meteoric rise indicates the rising presence of institutional players within the Ethereum ecosystem. As the top holder of Ethereum corporate treasury and the second-largest digital asset treasury in the world, the firm has established itself as a key player in crypto adoption.
