Ethereum News Today: BitMine Boosts Ethereum Holdings by 26% to 1.15M Tokens Valued at $4.9 Billion

BitMine Immersion Technologies Inc. has significantly expanded its Ethereum holdings, acquiring 317,000 ETH, which raises its total Ethereum treasury to over 1.15 million tokens, valued at nearly $4.9 billion [1]. This purchase marks a continuation of the firm’s aggressive accumulation strategy, increasing its holdings from 833,000 ETH as of August 4 [1]. The company is now recognized as the largest Ethereum treasury in the world, according to multiple reports [1][2].

The acquisition was executed through multiple transactions to mitigate market impact, according to company insiders [1]. A BitMine spokesperson emphasized Ethereum’s role in powering smart contracts and decentralized applications, stating it remains central to the firm’s treasury diversification strategy [1]. This move aligns with broader optimism in the Ethereum ecosystem, driven by the expansion of DeFi, layer-2 scaling solutions, and anticipation of future upgrades [1].

BitMine’s strategy reflects a broader shift in its corporate approach, prioritizing Ethereum as a core asset class [2]. This strategic pivot has had a direct impact on its stock performance, with shares surging 24.5% on Friday and continuing to rise in early August [2]. Over several days, the stock has gained nearly 28%, buoyed by growing investor confidence and high-profile investments, including an $182 million infusion from ARK Invest [2].

BitMine’s chairman, Tom Lee, has drawn parallels between the current Ethereum adoption cycle and the 2017 Bitcoin bull run [1]. He attributes this momentum to regulatory developments surrounding stablecoins, signs of SEC openness to onchain finance, and institutional interest from firms such as JPMorgan and Robinhood [1]. These factors, if sustained, could contribute to a significant price increase for ETH, according to Lee.

Despite its strong balance sheet growth, BitMine faces ongoing profitability challenges. Its EBIT margin is at -43.8%, while gross margins remain at 25.1% [2]. In response, the company has launched a $1 billion stock repurchase program, signaling confidence in its valuation and aiming to reward shareholders during a period of strong market momentum [2].

The firm has also secured strategic institutional backing, including the Founders Fund, which acquired approximately 5 million shares [2]. This investment highlights the role of institutional capital in shaping BitMine’s financial trajectory. Its stock has risen from around $31.73 to $52.86 in a short period, reflecting strong market expectations [2].

With corporate Ethereum holdings now exceeding $10 billion across tracked entities, BitMine’s accumulation strategy reflects a broader trend of institutional adoption [1]. The firm’s large Ethereum treasury positions it to benefit from long-term price appreciation while managing its balance sheet through a digital-first approach [1].

Sources:

[1] https://www.theblock.co/post/366331/largest-ethereum-treasury-firm-bitmine-adds-317000-eth-to-push-holdings-worth-nearly-4-9-billion

[2] https://stockstotrade.com/news/bitmine-immersion-technologies-inc-bmnr-news-2025_08_09/