Ethereum News Today: BitMine Surpasses $8.8 Billion in ETH Holdings—Challenging Bitcoin’s Dominance

BitMine Immersion Technologies (BMNR) has emerged as the world's largest Ethereum (ETH) treasury, with combined crypto and cash holdings now exceeding $8.8 billion as of August 24, 2025. This includes over 1.7 million ETH tokens, valued at approximately $4,808 per ETH, and $562 million in unencumbered cash. The company announced a significant increase in its holdings—adding over 190,500 ETH in just one week—bringing its total ETH reserves to 1,713,899 tokens. This growth in Ethereum treasury assets places BitMine second only to Michael Saylor’s Strategy, Inc. (MSTR), which maintains a Bitcoin treasury valued at $71 billion.

The company’s net asset value (NAV) per share has risen to $39.84 as of August 24, a 74% increase from $22.84 on July 27. This surge is attributed to the rapid accumulation of Ethereum and the strong performance of the digital asset. BitMine's treasury strategy, launched on June 30, has enabled the company to pass several milestones, including surpassing $8 billion in combined holdings and achieving an average daily trading volume of $2.8 billion, ranking it among the top 20 most liquid U.S. stocks. The company’s stock has attracted a robust institutional investor base, including ARK’s Cathie Wood, Founders Fund, and Galaxy Digital.

Ethereum’s recent price performance has also contributed to BitMine’s growth. ETH briefly surpassed its 2021 record high, reaching $4,945.60 on August 24, according to CoinGecko data. Analysts attribute this surge to growing institutional interest in ether and a shift in market momentum away from Bitcoin. The asset is now being viewed as a more compelling long-term investment, particularly with Ethereum’s economic model supporting constrained supply and high-value use cases such as smart contracts and stablecoin transactions.

Despite the positive momentum, the market experienced a sharp correction overnight, with ETH falling below $4,600. This pullback led to a decline in the value of BitMine’s holdings, reducing their combined value by approximately $800 million. The firm’s stock also slid more than 6% in pre-market trading, reflecting the broader market volatility. However, BitMine’s leadership, including Fundstrat’s Tom Lee, remains optimistic about the long-term trajectory of Ethereum and its potential to reshape the financial system alongside advancements in artificial intelligence and blockchain adoption.

BitMine continues to expand its Ethereum treasury through capital-raising efforts and strategic acquisitions. The company recently filed to raise an additional $20 billion through stock sales, signaling its intent to scale further. With Ethereum's market dynamics evolving and regulatory developments such as the GENIUS Act reshaping the crypto landscape, BitMine aims to solidify its position as a leading force in the digital asset space.

Source:

[1] Ether, Ethereum's coin, breaks 2021 all-time high (https://www.axios.com/2025/08/24/ether-all-time-high)

[2] BitMine Immersion (BMNR) Reigns as the 1 ETH Treasury in the World, 2nd Largest Crypto Treasury Globally and the 20th Most Liquid US Stock, Trading $2.8 Billion per Day on Average (https://www.prnewswire.com/news-releases/bitmine-immersion-bmnr-reigns-as-the-1-eth-treasury-in-the-world-2nd-largest-crypto-treasury-globally-and-the-20th-most-liquid-us-stock-trading-2-8-billion-per-day-on-average-302537388.html)

[3] BitMine's ETH Holdings Top 1.7M Tokens, With $562M of Buying Power Remaining (https://www.coindesk.com/business/2025/08/25/bitmine-s-eth-holdings-top-1-7m-tokens-with-usd562m-of-buying-power-remaining)

[4] Cathie Wood-Backed BitMine Slides Pre-Market As Ethereum Slides After Record Highs (https://finance.yahoo.com/news/cathie-wood-backed-bitmine-slides-095616178.html)