Ethereum News Today: Bitmine Surpasses 833,000 ETH Tokens in Treasury Valued at $2.9 Billion

Bitmine Immersion Technologies (Nasdaq: BMNR) has surpassed 833,000 Ethereum (ETH) tokens, valued at over $2.9 billion, making it the largest ETH treasury globally [2]. The company achieved this milestone in just 35 days, accumulating approximately 24,000 ETH per day [6]. With a current ETH price of $3,491.86 per token, Bitmine's holdings represent nearly 0.7% of the total circulating ETH supply [3]. This rapid accumulation strategy aims to secure 5% of all ETH, which would amount to approximately 6 million tokens [4].

Bitmine now ranks as the third-largest crypto treasury in the world, following MicroStrategy and Mara Blockchain [1]. The company has attracted significant institutional backing, including Bill Miller III, Cathie Wood, and investment firms such as MOZAYYX, Founders Fund, and Pantera [4]. This level of support underscores the legitimacy and strategic vision of Bitmine’s approach to building an extensive ETH treasury.

In addition to its treasury expansion, Bitmine has demonstrated strong market liquidity, with an average daily trading volume of $1.6 billion, placing it 42nd in terms of liquidity among U.S.-listed stocks [1]. This level of liquidity enhances the appeal for institutional investors and supports meaningful position building in the stock market.

Looking forward, Bitmine has indicated plans to enable ETH staking, which could generate recurring yield from its holdings. At a conservative 3% staking yield, the company could potentially earn over $87 million annually from its current ETH balance [4]. This move would transform Bitmine into a self-sustaining ETH-backed enterprise with revenue-generating capabilities.

Bitmine’s aggressive accumulation strategy has drawn comparisons to MicroStrategy’s Bitcoin treasury model but with a distinct focus on Ethereum. The company is effectively functioning as an ETH-backed security, offering traditional investors exposure to Ethereum through a listed vehicle [1]. The scale of its treasury and the pace of accumulation highlight a bold corporate strategy that could influence broader market dynamics.

Source: [1] https://www.stocktitan.net/news/BMNR/bit-mine-immersion-bmnr-eth-holdings-exceed-833-000-tokens-valued-in-nqmlw07tnpmk.html

[2] https://cryptodnes.bg/en/bitmine-becomes-worlds-largest-public-ethereum-holder-with-2-9b-in-eth/

[3] https://www.mitrade.com/insights/news/live-news/article-3-1011694-20250805

[4] https://www.theglobeandmail.com/investing/markets/stocks/BMNR/pressreleases/33884586/bitmine-surpasses-833000-eth-tokens-milestone/

[6] https://www.reddit.com/r/ethtrader/comments/1mhlesl/bitmine_just_became_the_worlds_largest_corporate/