Ethereum News Today: BitMine Surpasses $2.9 Billion in Ethereum Holdings, Eyes 5% Supply Target

BitMine Immersion Technologies has rapidly become the largest Ethereum (ETH) holder in the world, accumulating 833,137 ETH valued at $2.9 billion as of August 3, 2025 [1]. This includes a recent $757.5 million acquisition of 208,137 ETH, which was completed within 35 days [2]. The company is now the third-largest crypto treasury globally, trailing only MicroStrategy and Marathon Digital Holdings, and ranks as the 42nd most traded U.S. stock with a daily trading volume of $1.6 billion [3].

The rapid accumulation of Ethereum assets positions BitMine to potentially hold 5% of the total ETH supply, a move that signals significant institutional confidence in the long-term value of Ethereum [4]. This strategy mirrors MicroStrategy’s early Bitcoin acquisition approach and has attracted high-profile institutional backing, including Bill Miller III, ARK Invest, Founders Fund, Pantera Capital, Kraken, DCG, and Galaxy Digital [5]. Bill Miller III, a noted investor in MicroStrategy, has expressed optimism about BitMine’s potential profitability once ETH staking is activated [6].

BitMine’s aggressive growth is also supported by its operational efficiency in energy-cost-effective regions such as Texas and Trinidad, which gives the company a competitive edge in cost management [7]. The company plans to launch ETH staking in the near future, which is expected to provide a consistent revenue stream and further enhance the value of its treasury [8]. Thomas “Tom” Lee, BitMine’s Chairman, described the pace of growth as “lightning speed,” emphasizing the company’s ability to scale from zero to over 833,000 ETH in less than a month [9].

The broader implications of BitMine’s strategy are significant for the crypto market. By amassing the largest ETH treasury, the company is contributing to Ethereum’s dominance and signaling a shift in how traditional financial institutions are viewing blockchain assets. Analysts have noted that BitMine’s actions reflect a growing institutional adoption of decentralized finance infrastructure and a belief in Ethereum’s role in the future of digital finance [10].

The company’s institutional support and market performance suggest that it is setting a new benchmark for crypto treasury management. With a clear roadmap that includes both liquidity expansion and staking initiatives, BitMine is positioned to influence the trajectory of Ethereum’s market dynamics. The rapid accumulation of ETH and strategic partnerships highlight the company’s bold approach, which may serve as a model for other institutional players considering crypto as part of their investment portfolios [11].

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[1] BitMine’s $2.9B Ethereum Treasury Grows Rapidly, Potentially Targeting 5% of ETH Supply August 5, 2025 (https://en.coinotag.com/bitmines-2-9b-ethereum-treasury-grows-rapidly-potentially-targeting-5-of-eth-supply/)