BitMine Immersion Technologies, a blockchain technology firm, has cemented its position as the largest public holder of Ether (ETH) with a second major purchase this week. According to blockchain data, the company acquired 46,255 ETH, worth $200 million, from the digital asset trust Bitgo on Wednesday.
This latest transaction brings BitMine's total Ether holdings to more than 2.1 million ETH, valued at over $9.2 billion. This significant accumulation puts the company well ahead of the second-largest ETH holder, Sharplink Gaming, which holds over 837,000 ETH. Earlier in the week, BitMine had already bought 202,500 ETH, pushing its total holdings past the 2 million mark for the first time.
While BitMine's aggressive Ether acquisition strategy continues, Bitcoin treasury buying has slowed down this week, with public firms making only around $60 million in total Bitcoin purchases. Despite the slower pace, companies that announced crypto purchases saw their share prices jump, though many of these gains proved to be short-lived. For example, Pop Culture Group saw its stock soar by over 40% after a Bitcoin purchase, but the gain ended the day at 12.5%. Similarly, Robin Energy's stock jumped over 150% before settling at a 21% gain.
The article notes that this trend of public companies buying crypto to boost their stock prices may be slowing down. An expert from NYDIG, a Bitcoin investment firm, warned that the premiums on crypto-buying companies are declining, suggesting a "bumpy ride may be ahead" for these firms.
September 2025, Cryptoniteuae