- BitMine Immersion purchased 203,826 ETH last week, bringing total Ethereum holdings to 3.24 million tokens, representing 2.7% of total supply.
- The company’s total crypto and cash portfolio now reaches $13.4 billion, including Bitcoin, “moonshot” investments, and $219 million in unencumbered cash.
- BitMine leads crypto treasury peers with high stock liquidity, institutional backing, and rapid NAV growth while targeting 5% of the Ethereum network.
Over the last week, BitMine Immersion Technologies (BMNR) has purchased 203,826 ETH worth $823.5 million. Following this acquisition, the company owns 3.24 million total Ethereum tokens, or 2.7% of the entire supply of ETH.
Accelerated Ethereum Accumulation
BitMine’s Ethereum accumulation now positions the company as the largest ETH treasury globally. Alongside 192 BTC and $119 million in “moonshot” investments, the total crypto and cash holdings reach $13.4 billion.
“The crypto market saw one of its largest deleveraging events ever last week and this put downward pressure on ETH prices,” said Thomas “Tom” Lee, Chairman of BitMine. “Given the expected Supercycle for Ethereum, this price dislocation represents an attractive risk/reward.”
Lee added, “We acquired 203,826 ETH tokens over the past week, pushing our ETH holdings to 3.24 million, or 2.7% of the supply of ETH. We are now more than halfway towards our initial pursuit of the ‘alchemy of 5%’ of ETH.”
This approach reflects BitMine’s focus on long-term cryptocurrency accumulation, combining Ethereum purchases with Bitcoin and strategic investments to maintain leadership among crypto-focused treasuries.
Institutional Support and Market Influence
BitMine continues to attract premier institutional investors, including ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, Galaxy Digital, and Thomas Lee personally. “Our high liquidity is appealing to institutional capital,” Lee noted, emphasizing the company’s market presence.
The stock is now among the most widely traded in the United States, with an average daily volume of $2.1 billion over five days. BMNR ranks 33rd in trading, ahead of Eli Lilly and just behind Costco, reflecting investor demand and trading efficiency.
Lee highlighted, “The combined trading volume share of BitMine and MSTR is now 88% of all global DAT trading volume. We continue to lead our crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of our stock.”
Long-Term Strategy and Portfolio Diversification
BitMine has surpassed the halfway point toward its “alchemy of 5%” Ethereum goal, reinforcing its long-term accumulation strategy. “Open interest for ETH sits at the same levels as seen on June 30th of this year when ETH was $2,500,” Lee noted.
Alongside Ethereum, BitMine holds BTC and $119 million in NASDAQ-listed Eightco Holdings, referred to as “moonshot” investments. Cash reserves of $219 million add flexibility for future acquisitions or strategic moves.
“The recent market volatility offers a favorable environment for measured accumulation,” Lee said. BitMine’s combination of Ethereum purchases, Bitcoin holdings, diversified investments, and institutional support strengthens its position as a leading cryptocurrency treasury while maintaining high trading liquidity.
