BitMine Immersion Technologies (BMNR) is reported to have significantly increased its corporate Ethereum (ETH) treasury, adding 23,823 ETH valued at approximately $103.7 million on Thursday.
Blockchain analysis firm Lookonchain, citing data from Arkham, tracked the transfer of ETH from a BitGo wallet to an address identified as belonging to BitMine. However, BitMine has not officially confirmed this acquisition.
This reported purchase further solidifies BitMine's position as the largest ETH treasury holder and the second-largest overall crypto treasury behind Strategy. Led by Fundstrat co-founder Tom Lee, BitMine officially holds 2.83 million ETH, worth roughly $12.4 billion. The company has previously stated its ambitious goal to accumulate 5% of Ethereum's total supply to support its role in financial market services.
Following the reported move, BMNR's stock traded down 1.5% to close at $59.10 on Thursday. Similarly, Ethereum was down 1.4%, trading at $4,384.
October 2025, Cryptoniteuae