BitMine Surpasses $2.9 Billion in ETH Treasury Ranks 67th in U.S. Market Liquidity

On August 4, 2025, BitMine Immersion (BMNR) closed with a 1.74% decline, trading at $1.15 billion in volume, ranking 67th in U.S. market liquidity. The company announced its Ethereum (ETH) treasury holdings surpassed $2.9 billion, securing its position as the largest corporate ETH holder globally. The accumulation, achieved in 35 days, includes 833,137 ETH units at $3,491.86 per token, placing BitMine third in total crypto treasury value behind MicroStrategy and Mara Blockchain.

BitMine’s rapid ETH acquisition aligns with its “alchemy of 5%” strategy to control 5% of the global ETH supply. Institutional backing has grown significantly, with notable investors including Bill Miller III and ARK’s Cathie Wood joining entities like Founders Fund and Pantera. The company’s stock liquidity has surged, averaging $1.6 billion in daily trading volume, ranking it 42nd among U.S. equities. This liquidity underscores strong market demand and institutional confidence in its capital allocation strategy.

Plans to activate ETH staking, expected to generate recurring revenue, further bolster the company’s profitability outlook. BitMine’s treasury strategy positions it as a hybrid of traditional finance and crypto infrastructure, offering investors exposure to Ethereum through a listed vehicle. The company’s operations span Bitcoin mining, hashrate services, and advisory, with assets concentrated in low-cost energy regions.

The strategy of purchasing the top 500 stocks by daily trading volume and holding them for one day delivered a 166.71% return from 2022 to the present, outperforming the benchmark by 137.53%. This highlights liquidity concentration’s role in short-term performance, particularly in volatile markets, where high-volume stocks experience amplified price movements driven by institutional and algorithmic activity.