BitMine purchases $201 million worth of Ethereum, increasing their total holdings to $9.3 billion in ETH.
BitMine Immersion Technologies has recently expanded its Ethereum (ETH) holdings by purchasing around $201 million worth of ETH with the help of BitGo. This acquisition, totaling 46,255 ETH spread across three wallet addresses, marks the company’s second significant purchase within a week.
The company made headlines just one day prior by acquiring 202,469 ETH for an impressive $881 million. These acquisitions have propelled BitMine’s total Ethereum holdings to an impressive 2,126,018 ETH, valued at approximately $9.3 billion. Notably, this accounts for 1.75% of Ethereum’s circulating supply.
BitMine made the strategic decision in June 2025 to treat cryptocurrencies as treasury assets, a move that has driven its aggressive accumulation of ETH. This shift has been accompanied by an asset-light business model emphasizing capital markets and staking yields. With its sights set on acquiring 5% of Ethereum’s total supply, BitMine aims to rise to the ranks of the largest publicly traded ETH holder globally.
The company’s bold strategy has resonated positively with shareholders, evident from reports indicating a substantial 970% surge in BitMine’s stock price since announcing its focus on Ethereum. This success underscores the growing confidence in cryptocurrencies among investors.
BitMine’s recent actions have also had a notable impact on the market, particularly on the price of Ethereum. Following the latest announcement, Ethereum’s value exceeded $4,400, marking a 3% increase within a 24-hour period. Analysts attribute this bullish momentum to BitMine’s significant accumulation of Ethereum, underlining the company’s influence on the market.
Interestingly, BitMine is not operating in isolation in terms of Ethereum acquisitions among publicly listed firms. Companies like SharpLink Gaming and Bit Digital are also bolstering their balance sheets by adding Ethereum, reflecting a broader trend of institutional adoption within the industry.
Moreover, BitMine’s recent investment of $20 million in Eightco Holdings and the appointment of David Sharbutt, a seasoned executive, to its board of directors, signal its commitment to expanding its corporate presence. These strategic maneuvers highlight BitMine’s proactive approach to integrating cryptocurrencies into its operations, solidifying its position as a pioneer in institutional Ethereum adoption.
Ultimately, BitMine’s recent actions underscore the company’s robust and innovative approach to navigating the evolving landscape of cryptocurrencies, particularly within the realm of Ethereum. As the firm continues to make substantial acquisitions and strategic decisions, its influence within the industry is likely to grow, setting the stage for further advancements in institutional crypto adoption.
