BitMine Surges to $8.82 Billion, Becomes Largest Ethereum Treasury

BitMine Immersion Technologies has become the world's largest Ethereum corporate treasury with $8.82 billion in holdings after a $2.2 billion accumulation in a week. The company has added 190,500 ETH, ranking second in global crypto reserves. Chairman Thomas Lee believes Ethereum represents one of the biggest macro trades of the next decade and sees regulatory shifts as catalysts for change, likening them to the US abandoning the gold standard in 1971.

BitMine Immersion Technologies (BMNR) has significantly expanded its Ethereum (ETH) holdings, positioning itself as the world's largest corporate treasury for the cryptocurrency. The company reported total holdings of $8.82 billion, including 1.71 million ETH tokens, following a $2.2 billion increase in just one week [1]. This rapid accumulation has propelled BMNR to the second-largest crypto treasury globally, trailing only Strategy Inc (MSTR) [1].

The surge in holdings is attributed to a combination of strategic purchases and substantial institutional capital injections. Key investors backing BMNR include ARK's Cathie Wood, Bill Miller III, and Pantera [1]. These investors signal a growing institutional interest in cryptocurrency and its underlying technologies.

Chairman Thomas "Tom" Lee of BitMine and Fundstrat underscored the strategic significance of Ethereum, stating, "Ethereum is a significant macro trade over the next 10-15 years" [1]. He believes that Ethereum's role in the blockchain ecosystem, coupled with the potential for regulatory shifts, could lead to a transformation of the financial system akin to the US abandoning the gold standard in 1971.

The company's forward-looking statements indicate that it aims to acquire 5% of the total ETH supply, which could further influence market dynamics and liquidity [1]. The recent regulatory shifts, such as the GENIUS Act and the SEC's Project Crypto, are also expected to play a pivotal role in reshaping the crypto landscape, reinforcing Ethereum's position as a foundational blockchain infrastructure [1].

Despite the volatility in ETH prices, which caused a 7% drop in BMNR's stock in August, institutional analysts like Tom Lee remain bullish on Ethereum's long-term prospects [1]. The company's operations are based in low-cost energy regions in Trinidad, Pecos, Texas, and Silverton, Texas [1].

References:
[1] https://www.morningstar.com/news/pr-newswire/20250818ny53273/bitmine-immersion-bmnr-is-the-1-eth-treasury-in-the-world-now-2nd-largest-crypto-treasury-globally-and-the-10th-most-liquid-us-stock-trading-64-billion-per-day-on-average
[2] https://www.marketscreener.com/news/bitmine-immersion-bmnr-reigns-as-the-1-eth-treasury-in-the-world-2nd-largest-crypto-treasury-glo-ce7c50d8d98ffe26