Bitmine’s ETH Treasury Hits $6.6B Amid Institutional Backing, Stock Liquidity Soars
Bitmine Immersion Technologies announced it holds over $6.6 billion in cryptocurrency, solidifying its position as the world’s largest ethereum treasury.
Bitmine Reports $6.6 Billion in Ether Holdings
The company’s holdings include 1,523,373 ETH tokens valued at $4,326 each and 192 bitcoin (BTC), totaling $6.612 billion as of Aug. 17. This marks a $1.7 billion increase from the $4.9 billion reported the prior week. Bitmine now ranks as the second-largest crypto treasury globally, trailing only Strategy’s $72 billion bitcoin holdings.
Bitmine (NYSE: BMNR) launched its ETH accumulation strategy on June 30 and has rapidly scaled its reserves. In six weeks, it added 373,000 ETH tokens, bolstered by institutional investors including Ark Invest, Founders Fund, and Galaxy Digital. These backers support Bitmine’s goal to acquire 5% of all ETH.
The company’s stock (BMNR) averages $6.4 billion in daily trading volume, making it the 10th most liquid U.S. equity. It outpaces JPMorgan (#27) and Alphabet (#11) among 5,704 listed stocks, per Fundstrat data.
Chairman Tom Lee cited institutional confidence in Bitmine’s “alchemy of 5%” strategy and its rapid growth in crypto NAV per share. He further reiterated the Ethereum network’s long-term potential, stating:
Lee compared current crypto regulatory shifts, including the GENIUS Act and SEC initiatives, to the 1971 Bretton Woods transition, forecasting similar market modernization. Bitmine’s liquidity and treasury scale position it uniquely amid these changes.
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