BitMine Adds $2.2B in ETH in a Week, Tops Global Corporate Rankings

BitMine Immersion Technologies (BMNR) announced Monday that its crypto and cash reserves have swelled to $8.82 billion, driven by an aggressive buying spree that now makes it the largest corporate holder of ETH.

1.7 Million ETH on the Balance Sheet

BitMine disclosed that it owns 1,713,899 ether, worth about $7.9 billion at current prices. The company also holds 192 bitcoin and $562 million in unrestricted cash, bringing its total assets close to its $9.2 billion market capitalization.

The firm only launched its ether-denominated treasury strategy in June but has accelerated accumulation in recent weeks. In the past week alone, BitMine added more than 190,000 ETH, boosting its crypto and cash balance by $2.2 billion. Management reaffirmed plans to eventually secure up to 5% of Ethereum’s circulating supply.

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Corporate ETH Treasuries Expand

BitMine’s rapid rise comes amid broader momentum in Ethereum treasuries. ETHZilla, a Peter Thiel-backed fund, recently increased its holdings to over 102,000 ETH, while SharpLink Gaming disclosed a $667 million purchase to grow its own stockpile.

According to The Block, public companies now hold more than $12 billion worth of ETH, representing over 2% of the token’s 120.7 million supply. The figures highlight how Ethereum is increasingly following Bitcoin’s path as a reserve asset for corporations.

Competing With Bitcoin Giants

BitMine now calls itself the world’s second-largest digital asset treasury overall, behind only Michael Saylor’s Strategy (MSTR), which controls over 632,000 bitcoin. The company also touted the liquidity of its shares, claiming an average daily trading value of $2.8 billion, making BMNR one of the most heavily traded crypto-linked stocks in the U.S.

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