Ethereum News Today: BitMine Surges 406.68% in Ethereum Holdings, Now Largest Institutional Holder

BitMine Immersion Technologies (BMNR) has emerged as the largest institutional holder of Ethereum (ETH), with holdings reaching 1.5 million ETH, or approximately $6.53 billion in value, according to recent data from strategicethreserve and other reports [1]. This represents a massive increase in the firm's Ethereum holdings over the past 30 days, with a 406.68% surge, the highest among institutional investors [2]. In a single week, BMNR added more than 373,000 ETH to its treasury, bringing its total holdings to 1,523,373 ETH [3].

The firm's rapid accumulation of Ethereum reflects a broader strategic move to capitalize on what its leadership views as a transformative period in global finance [4]. Tom Lee, chairman of BitMine and CIO of Fundstrat, has expressed strong confidence in Ethereum’s future, particularly in light of regulatory developments such as the proposed GENIUS Act and the expansion of stablecoin markets [5]. These changes, Lee has argued, could redefine the financial landscape in a manner similar to the U.S. abandoning the gold standard in 1971 [6].

BMNR’s aggressive accumulation strategy has been supported by significant capital moves. The company recently announced a $20 billion upsize to its stock offering to fund further Ethereum purchases [8]. Despite recent market volatility, including a 5.1% decline in Ethereum over the past 24 hours, BMNR’s stock outperformed the digital asset, falling only 2.4% in the same period [9]. Over the past month, BMNR’s shares have risen by about 31%, outpacing Ethereum’s 21.5% gain.

Ethereum’s institutional adoption is accelerating, with public treasuries and ETFs now holding more than 8% of the total supply [7]. Other institutional players, such as SharpLink Gaming (SBET) and The Ether Machine (DYNX), also reported significant Ethereum accumulation over the same period. SBET holds 728,800 ETH, with a 30-day increase of 159.72%, while DYNX increased its holdings by 8.01% to 345,400 ETH [1]. The Ethereum Foundation, however, experienced a small decline in its holdings, with a 3.3% drop over the past 30 days [2].

The increasing institutional interest in Ethereum is reshaping the digital asset market, with firms like BMNR demonstrating the capacity to execute large-scale acquisitions in a short timeframe [10]. This trend underscores Ethereum’s growing role as a strategic asset within institutional portfolios and highlights the shifting dynamics of the crypto market as traditional finance integrates digital assets into its framework.

Source:

[1] BitMine Adds $1.7 Billion in Ethereum, Now Second ... (https://decrypt.co/335613/bitmine-adds-1-7-billion-ethereum-second-strategy-crypto-treasury)

[2] ETH is about to reach a new high. Which " ... (https://www.odaily.news/en/post/5205747)

[3] BitMine Immersion (BMNR) announced today it holds 1,150,263 ETH valued at approximately $4.96 billion as of August 10 ... (https://mlq.ai/news/)

[5] BitMine today announced ETH holdings of 1,523,373 tokens: ... (https://t.co/xUgJ1TadQ6)

[7] The 7 Largest Publicly Traded Ethereum Treasury Firms (https://decrypt.co/335519/7-largest-publicly-traded-ethereum-treasury-firms)

[10] Institutional Demand Institutional interest is surging: A whale, labeled BMNR ... holdings to 1.297 million ETH ($5.77 billion) ... (https://www.tiktok.com/@malikcrypto45/photo/7539509743027637526)