Ethereum News Today: BitMine Surpasses 1.17M ETH Treasury Valued at $5.1 Billion

BitMine has officially become the first company to accumulate over 1 million Ethereum (ETH) tokens in its corporate treasury, reaching a total of 1.17 million ETH as of August 15. With Ethereum’s current valuation, the holding exceeds $5 billion [1]. The firm has added 317,126 ETH — valued at around $2 billion — in a single week, demonstrating an aggressive acquisition strategy [1].

The company’s chairman, Tom Lee, stated on August 4 that BitMine intends to acquire 5% of the total ETH supply as part of its long-term treasury strategy. The expansion began on June 30, when the company’s holdings were at zero, and it has since surged past 1 million ETH in just over a month [1].

BitMine has now outpaced its closest competitor, SharpLink Gaming, which holds 728,804 ETH. SharpLink has staked nearly all of its holdings and has earned over 1,326 ETH in staking rewards. SharpLink also raised $2.6 billion to fund its Ethereum purchases [1].

According to the Strategic ETH Reserve, there are currently 71 companies focused on Ethereum treasury strategies, collectively holding 3.7 million ETH — worth approximately $16.3 billion — or 3.06% of the total supply. These firms have committed to spending approximately $27 billion more to acquire additional ETH, signaling a potential future in which corporate holdings could reach 10% of the total supply [1].

To finance its aggressive buy-in, BitMine filed an amendment to expand its at-the-market equity offering by $20 billion. The company’s stock has surged over 1,100%, with an average daily trading volume of $2.2 billion, placing it 25th among U.S.-listed stocks [1].

The rapid accumulation of Ethereum by institutional players may indicate growing recognition of the asset as foundational infrastructure for future financial systems. BitMine has emphasized that staking ETH not only secures the network but also generates yield, aligning corporate interests with Ethereum’s long-term success.

On July 21, a major institutional investor moved approximately $175 million from traditional crypto stocks such as Coinbase and Robinhood into BitMine, reinforcing confidence in its treasury strategy. BitMine now ranks as the third-largest crypto treasury globally, following Bitcoin-focused entities Strategy and MARA Holdings [1].

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[1] BitMine becomes the first company to surpass 1M ETH holdings worth over $5B — [https://cryptoslate.com/bitmine-becomes-the-first-company-to-surpass-1m-eth-holdings-worth-over-5-billion/](https://cryptoslate.com/bitmine-becomes-the-first-company-to-surpass-1m-eth-holdings-worth-over-5-billion/)