BitMine Becomes Largest Ethereum Holder With $6.6B Treasury
BitMine Immersion Technologies has rapidly climbed to the top of Ethereum treasuries, reporting digital asset reserves valued at more than $6.6 billion. This milestone positions the company as the largest single holder of Ethereum globally and the second-largest crypto treasury overall, trailing only Strategy Inc.
The company revealed on August 17 that it currently holds 1,523,373 ETH alongside 192 BTC. At Ethereum’s price of roughly $4,326 per token, these holdings make BitMine the dominant institutional force in Ethereum accumulation.
What makes the achievement remarkable is the speed of growth. BitMine launched its Ethereum treasury program on June 30 and had it fully active by July 8. In just six weeks, it added over 373,000 ETH, swelling its reserves by $1.7 billion.
Thomas “Tom” Lee, Chairman of BitMine, said this pace underscores the company’s aggressive strategy. “In a single week, we boosted our ETH holdings by $1.7 billion, bringing total reserves to $6.6 billion. We’re leading among treasury peers both in the velocity of net asset growth and in the liquidity of our stock.”
BitMine’s influence extends beyond treasury accumulation. Its stock, BMNR, is now among the most heavily traded in the U.S., with a five-day average daily trading volume of $6.4 billion as of August 8, according to Fundstrat data. Still, shares slipped 1.40% to $57.00, largely tracking Ethereum’s 4.61% daily decline to $4,354.15.
For Lee, Ethereum’s role extends far beyond short-term market moves. He compared its significance to the U.S. abandoning the gold standard in 1971—a turning point that reshaped the financial system. He argued that blockchain, artificial intelligence, and Ethereum’s infrastructure could similarly transform global finance. “We believe Ethereum represents one of the largest macro trades of the next decade,” Lee said.
BitMine’s bold accumulation strategy reflects a larger wave of institutional interest in Ethereum, strengthening its case not just as a leading digital asset but as a foundational pillar of future financial innovation.
