Ethereum News Today: BitMine Expands Ethereum Holdings to 1.15M Tokens Valued at $4.9 Billion

BitMine, a New York Stock Exchange-listed Ethereum treasury and staking firm, has increased its holdings by 317,000 ETH, pushing its total Ethereum balance beyond 1.15 million tokens, valued at approximately $4.9 billion as of Monday. The firm claims this positions it as the entity with the largest corporate ETH treasury globally [1].

The recent addition marks a rapid accumulation phase for BitMine. Earlier reports from The Block indicated that the company held 625,000 ETH in late July and had announced a $1 billion stock repurchase program at that time. By August 4, its holdings had already climbed to 833,000 ETH, valued at $2.9 billion. The latest update suggests that BitMine added $1.3 billion in value to its treasury in just one week [1]. The company did not disclose any new financing in its latest statement, indicating that the purchase may have been funded from existing capital.

BitMine has positioned itself as a key player in the Ethereum ecosystem, aligning with a broader trend of institutional adoption and the growth of corporate Ethereum holdings. According to The Block’s data, Ethereum treasuries across major companies—such as SharpLink Gaming and Bit Digital—have now exceeded $10 billion in combined holdings [1]. The firm’s strategy reflects a growing appetite for Ethereum as a corporate asset and a long-term bet on its future utility in institutional finance.

BitMine’s chairman, Tom Lee, also co-founder of Fundstrat, has highlighted Ethereum’s potential to experience a "2017 Bitcoin" moment, driven by regulatory progress for stablecoins, the Securities and Exchange Commission's increasing openness to onchain finance, and major firms like JPMorgan and Robinhood developing on the Ethereum network. Lee has suggested the emergence of an “Ethereum MicroStrategy” trend, where companies heavily invest in the asset, potentially sending ETH prices from around $3,700 to $30,000 or more if these trends continue to compound [1].

As of the latest data, Ethereum was trading at $4,189, just 14% below its all-time high. BitMine’s shares have surged 9% following the latest treasury update and are up 634% since January, according to Yahoo Finance [1].

Source: [1] Largest Ethereum Treasury Firm BitMine Adds 317,000 ETH to Push Holdings Worth Nearly $4.9 Billion (https://www.theblock.co/post/366331/largest-ethereum-treasury-firm-bitmine-adds-317000-eth-to-push-holdings-worth-nearly-4-9-billion?utm_source=rss&utm_medium=rss)