Ethereum News Today: BitMine ETH Holdings Hit $6.6 Billion as Share Price Falls 14.2%

BitMine Immersion Technologies, a publicly traded Bitcoin mining company, has increased its Ethereum (ETH) holdings to 1.52 million tokens, valued at $6.6 billion, by adding 373,000 ETH to its treasury in the past week. This brings the company’s ETH position to one of the largest among corporate entities, according to Strategic ETH Reserve. Despite this accumulation, the company's share price has fallen by 14.2% since August 11, as recorded by Google Finance[1].

BitMine’s Chairman Thomas Lee stated that institutional investors have shown interest in the firm’s strategy of acquiring 5% of the circulating Ethereum supply, referred to internally as the “alchemy of 5%.” The company’s spokesperson, Marcy Simon, further emphasized that Ethereum is viewed as a platform for 21st-century financial infrastructure and token-based AI economies[1].

BitMine is now the largest corporate holder of ETH, controlling 1.3% of the total supply, per Strategic ETH Reserve. SharpLink Gaming ranks second with 729,000 ETH, and The Ether Machine holds third with 345,000 ETH. Over the past two months, both BitMine and SharpLink Gaming have aggressively expanded their ETH treasuries. BitMine plans to raise $24.5 billion through an at-the-market stock offering to fund further ETH purchases, while SharpLink Gaming has already secured $389 million for similar purposes[1].

The market reaction to these moves has been mixed. While the accumulation strategy aligns with growing institutional interest in Ethereum—including renewed ETF inflows and a recent Standard Chartered price prediction of $7,500 for ETH by 2025—the company’s share price decline suggests investor concerns about short-term financial stability and exposure to ETH volatility. The timing of the news coincides with broader Ethereum optimism, fueled by the Pectra upgrade and regulatory clarity in the U.S. Since the May 7 upgrade, the ETH price has risen 139% to $4,332 from $1,812[1].

BitMine’s stock valuation has come under pressure as its corporate treasury becomes increasingly weighted toward Ethereum. This highlights the dual nature of companies operating in the crypto space—balancing long-term asset appreciation with immediate market volatility. The 14.2% drop in share price over the week reflects the sensitivity of crypto-related equities to both operational decisions and macroeconomic conditions[1].

The recent surge in Ethereum holdings by BitMine and other corporate treasuries could signal a broader trend of institutional adoption and confidence in the blockchain’s future. However, it also raises questions about the financial resilience of these firms in a market known for rapid and unpredictable shifts. As Ethereum continues to gain traction, both as a settlement layer and a platform for DeFi and AI-driven token economies, the strategic choices made by treasury companies like BitMine will be closely watched by investors and analysts alike[1].

Source:

[1] Cointelegraph - [https://cointelegraph.com/news/bitmine-eth-holdings-reach-6-6b-share-price-tumbles](https://cointelegraph.com/news/bitmine-eth-holdings-reach-6-6b-share-price-tumbles)

[2] Stocktwits - [https://stocktwits.com/news-articles/tags/trending](https://stocktwits.com/news-articles/tags/trending)