BitMine Immersion Technologies has aggressively expanded its Ethereum (ETH) holdings, purchasing another 82,300 ETH in the past week, cementing its position as the largest corporate Ethereum holder globally. This acquisition boosts the company's total crypto and cash reserves to an impressive $13.7 billion.
Massive Ethereum Accumulation
- Total Holdings: BitMine now controls approximately 3.4 million ETH, valued at about $13.25 billion. This treasury makes it the second-largest overall corporate crypto holder, trailing only Strategy Inc.
- "Alchemy of 5%": The company currently owns 2.8% of Ethereum’s circulating supply, crossing the halfway point toward its ambitious goal of securing 5% of all ETH in existence. Chairman Thomas “Tom” Lee noted that the recent market correction provided "prime opportunities for large-scale accumulation."
- Portfolio Diversification: Beyond its dominant ETH reserve, BitMine’s portfolio includes 192 BTC, $389 million in cash, and a $62 million investment in Eightco Holdings.
Wall Street's Rising Star
BitMine's assertive strategy has captured significant attention on Wall Street, despite short-term stock volatility:
- Market Cap & Trading: The company's market capitalization stands at $12.49 billion. Its U.S.-listed shares (BMNR) are highly prominent, averaging $1.5 billion in daily trading volume, placing it ahead of companies like Marvell Technology.
- Strong Performance Metrics: The company shows solid profitability with earnings per share (EPS) surging 180% and a 1.03 MNAV (indicating healthy book value relative to its net asset value).
- Institutional Validation: The aggressive accumulation strategy is validated by support from major industry heavyweights, including ARK Invest, Pantera Capital, Kraken, and Founders Fund.
Institutional Landscape
BitMine's position is highly dominant within the institutional ETH ecosystem:
- Corporate Dominance: The company's holdings dwarf the next largest corporate holders: SharpLink Gaming (859,400 ETH) and The Ether Machine (496,710 ETH).
- Total Corporate Holdings: The top 71 institutional and corporate entities collectively own about 6.06 million ETH, representing roughly 5% of Ethereum's total supply.
Despite BitMine's conviction, Ethereum's price is facing short-term pressure, trading around $3,587 and down nearly 20% over the past month. BitMine's continued buying, however, underscores a belief that this weakness represents a long-term value opportunity for the asset.
November 2025, Cryptoniteuae