Ethereum News Today: BitMine Boosts Ethereum Holdings by $130 Million via OTC Amid Market Volatility

BitMine has executed a large-scale Ethereum acquisition through over-the-counter (OTC) channels, significantly increasing its ETH holdings amid ongoing market volatility. The company, led by CEO Tom Lee, added 28,650 ETH—valued at approximately $130 million—to its treasury, bringing its total Ethereum holdings to 1.174 million tokens. The transaction, facilitated via Galaxy Digital’s OTC desk and secured with BitGo, underscores BitMine’s aggressive accumulation strategy and reinforces institutional confidence in Ethereum.

This latest purchase builds upon a series of major ETH acquisitions over the past month, including a $600 million addition of 135,135 ETH in early July [2]. As of August 10, 2025, BitMine’s ETH holdings stood at 1,150,263 tokens, valued at approximately $4.96 billion [6]. The firm’s total Ethereum treasury now exceeds $5.23 billion, cementing its position as the largest institutional holder of Ethereum [5]. Over the past 30 days, BitMine has acquired 286,500 ETH through OTC desks, leveraging custodians like BitGo and platforms such as FalconX to build its position without significantly impacting market prices [1].

The OTC strategy allows large-scale buyers to avoid triggering price volatility, a common concern with large public market trades. BitMine’s approach aligns with broader institutional trends in the crypto space, where large entities are increasingly using OTC channels to accumulate assets discreetly. The firm’s continued expansion of its Ethereum holdings has sparked conversations within the crypto community about the implications for market dynamics, particularly regarding staking congestion and liquidity shifts. The recent transaction coincided with a brief price recovery in ETH, which had previously declined by 3.45% [5].

BitMine’s growing dominance in the Ethereum market has drawn comparisons to its primary competitor, SharpLink Gaming, which holds 728,804 ETH but reported a $103 million net loss in Q2 2025 due to accounting rules requiring the recognition of the lowest Ethereum price during the quarter [5]. In contrast, BitMine’s Ethereum treasury has remained stable despite market fluctuations, reflecting a more resilient financial position.

The broader institutional interest in Ethereum has also been evident in recent months, with other major players such as the Trump family’s World Liberty Financial (WLFI) project using USD Coin (USDC) to purchase 1,911 ETH and 84.5 wrapped Bitcoin (WBTC) [5]. These actions highlight a trend of institutional investors seizing opportunities to add to their crypto treasuries during periods of discounted prices.

Tom Lee, BitMine’s CEO, emphasized that the latest acquisition reflects the company’s long-term commitment to Ethereum and its institutional strategy amid market fluctuations. “The recent purchase reflects our commitment to accumulate ETH and reinforces our institutional strategy during market fluctuations,” he stated. No direct public comments were made by industry figures such as Arthur Hayes or Vitalik Buterin regarding the transaction, though the move is widely seen as a signal of strong institutional adoption and potential market shifts.

BitMine’s continued accumulation of Ethereum underscores its role as a key player in the institutional crypto market. As the firm’s holdings now surpass 1.17 million ETH and exceed $5 billion in total value, its strategic use of OTC channels and large-scale acquisitions may serve as a model for other institutional investors seeking to build long-term exposure to Ethereum. The implications of such activity could include increased asset centralization, liquidity shifts, and broader impacts on network dynamics such as staking congestion and validator queue delays.

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Source:

[1] AInvest - [https://www.ainvest.com/news/rising-strategic-chain-monitoring-crypto-markets-2508/](https://www.ainvest.com/news/rising-strategic-chain-monitoring-crypto-markets-2508/)

[2] Coin - [https://www.coingabbar.com/en/crypto-currency-news/bitmine-adds-600m-ethereum-to-treasury-now-holds-5-77b-in-eth?srsltid=AfmBOorZGaoudLbEDWs9LWC1Qvo2RIfwEqL7uQfo2CfpZzW1Yde-S3Qo](https://www.coingabbar.com/en/crypto-currency-news/bitmine-adds-600m-ethereum-to-treasury-now-holds-5-77b-in-eth?srsltid=AfmBOorZGaoudLbEDWs9LWC1Qvo2RIfwEqL7uQfo2CfpZzW1Yde-S3Qo)

[4] Facebook - [https://www.facebook.com/photo.php?fbid=746652244914653&set=a.130****63246274&type=3](https://www.facebook.com/photo.php?fbid=746652244914653&set=a.130****63246274&type=3)

[5] insidebitcoins.com - [https://insidebitcoins.com/news/trump-familys-world-liberty-financial-tom-lees-bitmine-buy-the-ethereum-dip](https://insidebitcoins.com/news/trump-familys-world-liberty-financial-tom-lees-bitmine-buy-the-ethereum-dip)

[6] MLQ.ai - [https://mlq.ai/news/](https://mlq.ai/news/)