Ethereum News Today: BitMine ETH Holdings Surpass $4.96 Billion as Stock Jumps 11%

BitMine Immersion Technologies (NYSE: BMNR) has significantly increased its Ethereum (ETH) treasury holdings, surpassing 1.15 million tokens valued at over $4.96 billion, according to recent disclosures. This marks a $2.0 billion rise in its holdings from the $2.9 billion reported just one week prior [2][5]. The rapid accumulation has positioned BitMine as the largest single holder of ETH globally, outpacing many other corporate crypto treasuries in terms of token volume [1][3].

The surge in BitMine’s ETH holdings has driven a sharp rise in its stock price. Following the announcement, shares of the company surged over 11% in pre-market trading [2]. This performance has been sustained over recent weeks, with strong institutional backing and increasing trading volume contributing to the stock’s momentum. According to TipRanks, the company now ranks as the 25th most liquid U.S. stock, with an average daily trading volume of $2.2 billion [6].

BitMine launched its ETH accumulation strategy on June 30 and has since executed it with remarkable speed and scale. The company has publicly stated its objective to own 5% of the total Ethereum supply. The rapid pace of acquisitions has drawn attention from key institutional investors, including Cathie Wood’s ARK, Founders Fund, and Pantera [3]. The strategy appears to be resonating with the market, particularly as Bitcoin and Ethereum continue to gain institutional traction.

Unlike many crypto firms that engage in mining or infrastructure services, BitMine focuses exclusively on holding ETH as a core component of its business model. This pure-play treasury approach has made the company a unique vehicle for traditional investors seeking exposure to the Ethereum market. While BitMine trails behind MicroStrategy and Mara Blockchain in total cryptocurrency holdings, it leads in ETH holdings alone, reflecting the specificity of its strategy [3].

The company’s aggressive accumulation and growing institutional support suggest a continuation of its trajectory. The market response to the increased treasury highlights the broader trend of institutional adoption of cryptocurrency assets, reinforcing the viability of crypto treasuries as a strategic corporate asset class.

Source:

[1] BitMine Immersion (BMNR) ETH Holdings Exceed 1.15 Million Tokens (https://www.prnewswire.com/news-releases/bitmine-immersion-bmnr-eth-holdings-exceed-1-15-million-tokens-valued-in-excess-of-4-96-billion-and-largest-eth-treasury-in-world-302526216.html)

[2] BitMine Immersion Technologies (NYSE:BMNR) Monday announced holdings of ETH exceeding $4.96 billion, sending shares up over 11% in premarket trading (https://seekingalpha.com/news/4483180-bitmine-immersion-eth-holdings-exceed-115-million-tokens-shares-rise)

[3] BitMine Holds $4.96B in ETH, Becomes World's Largest (https://www.stocktitan.net/news/BMNR/bit-mine-immersion-bmnr-eth-holdings-exceed-1-15-million-tokens-9ce524je22kn.html)

[5] BitMine increased its holdings by 317,000 ETH in a week (https://www.gate.com/post/status/12950988)

[6] BitMine's Ethereum Holdings Surge to $4.96B (https://www.tipranks.com/news/company-announcements/bitmine-immersions-ethereum-holdings-surge-to-4-96b)