BitMine Sets New Record as Largest ETH Treasury, Eyes Breakout Above $54

BitMine Immersion Technologies Inc. (NYSE:BMNR) has acquired 203,826 ETH, pushing its holdings to 3.24 million, making it the world's largest ETH treasury and second-largest overall. BMNR's investor roster includes high-profile names like Cathie Wood's ARK Invest and Founders Fund. The company's crypto and cash holdings have reached $13.4 billion. BMNR's shares closed at $53.80 on Monday, gaining nearly 8% after rebounding from support at $50.

BitMine Immersion Technologies Inc. (NYSE: BMNR) has significantly bolstered its Ethereum (ETH) holdings, pushing its total to 3.24 million tokens. This acquisition, amounting to 203,826 ETH, elevates BMNR to the position of the world's largest ETH treasury and the second-largest overall crypto treasury BitMine Immersion’s 700% Crypto-Fueled Stock Surge – Boom or Bubble for BMNR?^[1]. The company's stock has seen a notable rebound, closing at $53.80 on Monday, September 12, 2025, after gaining nearly 8% from support at $50.

The rapid accumulation of ETH aligns with BitMine's strategic pivot from a Bitcoin miner to a digital asset treasury, focusing primarily on Ethereum. The company's crypto and cash holdings now total $13.4 billion, reflecting its ambitious goal of acquiring 5% of Ethereum's supply, internally dubbed the "Alchemy of 5%" initiative BitMine Immersion’s 700% Crypto-Fueled Stock Surge – Boom or Bubble for BMNR?^[1]. This aggressive strategy has attracted high-profile investors, including Cathie Wood's ARK Invest and Founders Fund, among others BitMine Immersion’s 700% Crypto-Fueled Stock Surge – Boom or Bubble for BMNR?^[1].

BitMine's latest move to acquire 203,826 ETH was executed during a market downturn, indicating a "buy the dip" strategy. The company's chairman, Tom Lee, commented on the opportunity, stating that the purchase pushed ETH holdings to over 3 million, equating to 2.5% of the total supply BitMine Immersion’s 700% Crypto-Fueled Stock Surge – Boom or Bubble for BMNR?^[1]. This acquisition was funded through a $365.2 million stock offering in September, priced at $70 per share, reflecting strong investor demand BitMine Immersion’s 700% Crypto-Fueled Stock Surge – Boom or Bubble for BMNR?^[1].

The stock's recent performance highlights the volatile nature of BMNR's shares, which have swung dramatically in 2025. Despite the volatility, BMNR's stock has shown resilience, with a year-to-date gain of approximately 700% BitMine Immersion’s 700% Crypto-Fueled Stock Surge – Boom or Bubble for BMNR?^[1]. The company's high trading volumes, often exceeding 40-70 million shares per day, contribute to its liquidity and ability to raise capital via stock sales BitMine Immersion’s 700% Crypto-Fueled Stock Surge – Boom or Bubble for BMNR?^[1].

BitMine's transformation into an Ethereum-focused treasury has positioned it as a pure-play investment vehicle for institutional investors seeking exposure to Ethereum. The company aims to fill a gap in the market until formal Ethereum exchange-traded funds (ETFs) become available BitMine Immersion’s 700% Crypto-Fueled Stock Surge – Boom or Bubble for BMNR?^[1].

As BMNR continues to attract investor interest and bolster its crypto holdings, it remains a high-risk, high-reward investment. The company's aggressive strategy and ambitious goals, coupled with the volatile nature of the crypto market, present both opportunities and challenges for investors BitMine Immersion’s 700% Crypto-Fueled Stock Surge – Boom or Bubble for BMNR?^[1].