Ethereum News Today: BitMine Expands $24.5B Offering to Aggressively Buy Ethereum

BitMine Immersion Technologies has announced a significant expansion of its capital-raising efforts, with plans to raise up to $24.5 billion through an at-the-market offering. The proceeds will be directed toward acquiring Ethereum (ETH), bitcoin (BTC), and funding mining operations, signaling a bold escalation in its treasury strategy. The company, now the largest corporate holder of ETH, holds 1.15 million ETH valued at approximately $5 billion, following a single-week increase of 317,000 ETH [3]. This represents a notable shift from its initial $2 billion fundraising target in early July, which had already escalated to $4.5 billion by month-end [3].

The company’s aggressive accumulation strategy has drawn comparisons to MicroStrategy’s Bitcoin buying spree, with BitMine’s chairman, Tom Lee, suggesting the market may be entering an “Ethereum MicroStrategy” phase. He points to favorable regulatory developments, increasing institutional onchain adoption, and growing confidence in stablecoin integration as key drivers of the shift [3]. Lee has also forecasted that Ethereum could reach $30,000, drawing parallels with Bitcoin’s historical price trajectory [3].

Ethereum’s price has responded positively to these developments. On August 11, 2025, ETH rose above $4,300 for the first time since December 2021 [3], with the broader market also seeing significant inflows, including a $1.01 billion ETF inflow and a $1.3 billion whale buy [6]. Other major ETH holders, such as SharpLink and The Ether Machine, have also increased their positions, with SharpLink recently securing $900 million in funding to expand its ETH treasury [3]. Analysts at Standard Chartered suggest this trend could continue, with treasury firms potentially controlling up to 10% of the total Ethereum supply [3].

BitMine’s stock has mirrored the momentum in its Ethereum holdings, rising nearly 15% on Monday and continuing higher in pre-market trading [3]. The company’s expansion plans and growing influence in the Ethereum ecosystem reflect a broader shift toward institutional dominance in the cryptocurrency market. As corporate treasuries accumulate large amounts of ETH, they are effectively removing supply from exchanges, creating upward price pressure and reshaping the market’s fundamental dynamics [8].

Sources:

[1] title1, (https://coindoo.com/ethereums-biggest-corporate-holder-plans-massive-buying-spree/)

[2] title2, (https://bravenewcoin.com/insights/mystery-institution-buys-over-1-15-billion-worth-of-ethereum-in-one-week)

[3] title3, (https://thecryptobasic.com/2025/08/12/ethereum-breaks-4400-as-bitmine-expands-20b-offering-to-aggressively-acquire-eth/)

[4] title4, (https://www.tipranks.com/news/tom-lees-20b-ethereum-gambit-sends-bitmine-stock-bmnr-into-overdrive)

[5] title5, (https://finance.yahoo.com/news/morning-minute-tom-lee-races-122011052.html)

[6] title6, (https://coinlaw.io/ethereum-etf-whale-buy-august/)

[7] title7, (https://www.fxstreet.com/cryptocurrencies/news/treasury-purchases-push-ethereum-toward-all-time-high-as-bitmine-holdings-surpass-1-million-eth-202508112005)

[8] title8, (https://learn.backpack.exchange/articles/ethereum-price-surge-bitmine-tom-lee-eth-treasuries)