Ethereum News Today: BitMine Rivals MSTR in ETH Grab as Institutions Bet Big

BitMine Immersion Technologies (NYSE AMERICAN: BMNR) has expanded its Ethereum (ETH) treasury to a total of $6.612 billion, according to its most recent disclosures. The firm, now the largest holder of ETH and the second-largest crypto treasury globally, has accumulated 1.523 million ETH, which, at a price of $4,326 per token, equates to a substantial portion of the total ETH supply. This represents a $1.7 billion increase in holdings since last week’s report, as the company added more than 373,000 ETH to its reserves over a seven-day period [1].

The aggressive accumulation strategy has been backed by a robust group of institutional investors, including ARK’s Cathie Wood, MozayyX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital [1]. According to Tom Lee, Chairman of BitMine and Managing Partner at Fundstrat, the firm’s goal is to acquire 5% of the total ETH supply, and the recent purchases have brought the company closer to that target [2]. Lee emphasized that the growth in the ETH treasury has been driven by institutional interest and the long-term strategic value of Ethereum.

BitMine’s rapid expansion of its crypto treasury has positioned it as a key player in the evolving institutional adoption of digital assets. It now ranks behind only Strategy Inc. (MSTR), which holds 628,946 BTC valued at $74 billion, as the second-largest public corporate crypto treasury [3]. The company’s treasury strategy began in June, with initial acquisitions closing by July. Since then, it has demonstrated a high velocity of growth, supported by a strong financial and market infrastructure [1].

In addition to its crypto holdings, BitMine has emerged as one of the most liquid stocks in the U.S. equity market. The company’s stock has an average daily trading volume of $6.4 billion, placing it at the 10th most liquid stock in the U.S. [1]. This high level of trading activity suggests strong market interest in the firm’s business model and its potential as a long-term investment in the crypto space. The increased liquidity has also made the stock accessible to a broad range of investors, enhancing its appeal in both institutional and retail markets [2].

BitMine has also drawn comparisons to the historical transformation of financial markets, with Lee likening the impact of the GENIUS Act and SEC's Project Crypto to the U.S. ending the gold standard in 1971. He argues that these regulatory changes are laying the groundwork for Ethereum to play a central role in the future of finance and AI integration, much like how the gold standard's abolition helped redefine Wall Street [1]. This perspective underscores the company’s belief in Ethereum’s potential to drive a broader financial transformation in the coming years.

The company has indicated no plans to slow down its treasury expansion. Recently, it announced an upsize to its stock offering to raise an additional $20 billion in capital to continue accumulating Ethereum. Lee reiterated that Ethereum is among the most significant macroeconomic investments over the next decade, citing both technological and regulatory tailwinds as key factors [2]. As more traditional investors move into the crypto space, BitMine’s treasury strategy is likely to serve as a benchmark for corporate digital asset accumulation.

Source:

[1] BitMine Immersion Technologies, Inc. (https://www.prnewswire.com/news-releases/bitmine-immersion-bmnr-is-the-1-eth-treasury-in-the-world-now-2nd-largest-crypto-treasury-globally-and-the-10th-most-liquid-us-stock-trading-6-4-billion-per-day-on-average-302531968.html)

[2] Yahoo Finance (https://finance.yahoo.com/news/bitmine-adds-1-7-billion-162302851.html)

[3] Benzinga (https://finance.yahoo.com/news/bitmines-crypto-holdings-surpass-1-123858320.html)

[4] Coindesk (https://www.coindesk.com/business/2025/08/18/bitmine-s-ether-holdings-top-usd6-6b-stock-slides-7-alongside-eth-s-tumble)

[5] Mitrade Insights (https://www.mitrade.com/insights/news/live-news/article-3-1052998-20250820)