Las Vegas-based BitMine Immersion Technologies (NYSE: BMNR) has announced a major milestone in its cryptocurrency strategy. On August 11, 2025, the company revealed it now holds over 1.15 million Ethereum (ETH) tokens, valued at more than $4.96 billion. This positions BitMine as the world’s largest corporate holder of ETH, amid rising institutional interest in digital assets.
The announcement details that BitMine’s ETH holdings total exactly 1,150,263 tokens, priced at $4,311 each based on Bloomberg data. This represents a significant increase, with the firm adding approximately 317,000 ETH—worth about $1.3 billion—in the past week alone.
Funded from existing capital, this move strengthens BitMine’s lead in the emerging trend of corporate Ethereum treasuries. According to The Block, BitMine is the first digital asset treasury firm to surpass 1 million ETH.
BitMine’s stock reacted positively, rising over 11% in premarket trading on the NYSE American. Shares have seen substantial gains since the company pivoted to an ETH-focused strategy in late June 2025. As of the announcement, BMNR was trending upward, reflecting investor confidence in the firm’s aggressive accumulation plan.
This achievement places BitMine ahead of competitors like SharpLink Gaming, which holds about 521,939 ETH (valued at roughly $2.2 billion), and The Ether Machine with around 300,000 ETH ($1.3 billion). Overall, corporate ETH holdings have surged to $13 billion as ETH prices climb above $4,300. BitMine now ranks as the third-largest crypto treasury globally, behind Bitcoin-focused giants MicroStrategy and MARA Holdings.
Chairman Tom Lee, co-founder of Fundstrat, emphasized the company’s goal of acquiring up to 5% of ETH’s total supply, dubbed the “alchemy of 5%.” In a statement, Lee noted, “We have separated ourselves among crypto treasury peers by both the velocity of raising crypto NAV per share and by the high liquidity of our stock.”
BitMine plans to stake its ETH for yields, potentially generating ongoing revenue. As per the company’s press release, this rapid growth from zero to $4.96 billion in under two months showcases efficient capital deployment.
Prominent investors back BitMine’s vision, including ARK Invest’s Cathie Wood, Peter Thiel’s Founders Fund, Pantera Capital, Kraken, Digital Currency Group, and Galaxy Digital. Recently, iconic investor Bill Miller III took a significant stake, praising the management’s resolve. Miller drew parallels to MicroStrategy’s success, stating, “BitMine is set to be very profitable once the Company turns on ETH staking.”
Ethereum’s price has fluctuated, trading around $4,305 on August 11, with recent highs between $4,248 and $4,340. Using current spot prices, BitMine’s holdings are worth approximately $4.95 billion. The exact calculation: 1,150,263 × $4,311 = $4,958,783,793, often rounded to $4.96 billion in reports.
This trend signals growing institutional adoption of ETH as a treasury asset, similar to Bitcoin’s role. However, it exposes holders to market volatility. BitMine’s move could inspire more companies to diversify into Ethereum, boosting the ecosystem’s value.
