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BitMine Surpasses $2B in Ethereum Holdings Amidst Asset-Light Strategy
ByAinvest
Thursday, Jul 24, 2025 7:28 am ET1min read
BitMine Immersion Technologies has surpassed $2 billion in Ethereum holdings, with 566,776 ETH valued at $3,643.75 per ETH. This milestone follows the company's initial $250M private placement completed on July 8, as part of its asset-light treasury strategy.
BitMine Immersion Technologies (BMNR) has achieved a significant milestone in its cryptocurrency accumulation strategy. As of July 23, 2025, the company's holdings in Ethereum (ETH) exceeded $2 billion, with 566,776 ETH valued at $3,643.75 per ETH [1].This impressive figure comes just sixteen days after the company closed its initial private placement (PIPE) of $250 million on July 8, 2025. The company's asset-light treasury strategy, which aims to strengthen the broader Ethereum ecosystem, has been instrumental in this rapid growth [1].
Thomas "Tom" Lee, Chairman of BitMine's Board of Directors, commented on the achievement, stating, "At BitMine, we surpassed $2 billion in ETH holdings, just sixteen days after closing on the initial $250 million private placement. We are well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply" [1].
Jonathan Bates, CEO of BitMine, echoed the sentiment, expressing the company's commitment to Ethereum's continued growth and the advancement of its Ethereum treasury strategy [1].
BitMine's operations are based in low-cost energy regions in Trinidad, Pecos, Texas, and Silverton, Texas. The company's business lines include Bitcoin mining, synthetic Bitcoin mining, hashrate as a financial product, advisory services, and general Bitcoin advisory to public companies [1].
Forward-looking statements in the press release indicate that BitMine's goals regarding ETH acquisition and staking, the long-term value of Ethereum, and the advancement of its Ethereum treasury strategy are subject to risks and uncertainties. These include market conditions, competitive environment, and the future value of Bitcoin and Ethereum [1].
References:
[1] https://www.prnewswire.com/news-releases/bitmine-immersion-eth-holdings-exceed-2-billion-of-ethereum-to-advance-its-ethereum-treasury-strategy-302513073.html
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