Ethereum News Today: BitMine's Ethereum Play: Fueling AI and Finance's Blockchain Future

BitMine Immersion Technologies (NYSE AMERICAN: BMNR) has emerged as the largest corporate holder of Ethereum, surpassing 2.65 million ETH tokens as of September 28, 2025. This represents over 2% of the total ETH supply and positions the company as a dominant player in the cryptocurrency treasury space. The tokens are valued at $4,141 per ETH, contributing to a total crypto and cash holdings portfolio exceeding $11.6 billion. This includes 192 Bitcoin (BTC), a $157 million stake in Eightco Holdings (NASDAQ: ORBS), and $436 million in unencumbered cash BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 2.65 Million Tokens^[1].

The company's Ethereum holdings now rank as the 1 Ethereum treasury and 2 global treasury, trailing only Strategy Inc (MSTR), which holds 639,835 BTC valued at $71 billion. BitMine's strategic accumulation of ETH aligns with its long-term vision of acquiring 5% of the total supply, a target emphasized by Chairman Thomas "Tom" Lee. Lee, also head of Fundstrat, highlighted Ethereum's reliability and 100% uptime as key factors in its dominance, stating that the blockchain's role in AI and crypto supercycles makes it a critical long-term investment BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 2.65 Million Tokens^[1].

Institutional backing from major players further solidifies BitMine's position. The company is supported by investors including ARK's Cathie Wood, Pantera Capital, Kraken, and Galaxy Digital. This support enables BitMine to scale its treasury operations while navigating the volatile crypto market. Lee noted that the "power law benefits large ETH holders," reinforcing the company's focus on expanding its stake to capitalize on Ethereum's future growth BitMine Holds 2.65 Million ETH Tokens, Crypto and Cash Holdings Hit $11.6B^[2].

BitMine's stock liquidity also underscores its market influence. The company ranks as the 26th most traded stock in the U.S., with an average daily trading volume of $2.6 billion over a five-day period. This liquidity, combined with its aggressive acquisition strategy, positions BitMine to outpace peers in crypto treasury growth. The stock's high trading activity reflects confidence from both institutional and retail investors, bolstering the company's ability to fund further ETH purchases BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 2.65 Million Tokens^[1].

The company's expansion is framed within broader macroeconomic trends. Lee compared the SEC's Project Crypto and the GENIUS Act to transformative regulatory shifts like the 1971 termination of the Bretton Woods system. These developments, he argued, could reshape financial infrastructure similarly to how deregulation catalyzed Wall Street's modernization. BitMine's emphasis on Ethereum aligns with expectations that blockchain adoption in finance and AI will drive systemic change, with Ethereum serving as the primary infrastructure layer BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 2.65 Million Tokens^[1].

While BitMine's immediate focus remains on ETH accumulation, its diversified portfolio includes Bitcoin and equity stakes in ventures like Eightco Holdings. This strategy balances growth in crypto assets with traditional market exposure, mitigating risks from Ethereum's price volatility. The company's $436 million in cash reserves also provides flexibility to adapt to market conditions, ensuring liquidity for future acquisitions or strategic investments BitMine Holds 2.65 Million ETH Tokens, Crypto and Cash Holdings Hit $11.6B^[2].