BitMine Immersion Technologies has recently achieved a significant milestone by surpassing 2 million ETH in its holdings, firmly establishing itself as the largest corporate holder of Ethereum globally. The current valuation of this Ethereum stash exceeds $8.5 billion, a substantial increase from the previous report of 1.8 million ETH just last week.
In addition to Ethereum, BitMine continues to hold 192 Bitcoin and maintains a cash balance of approximately $266 million. These figures place BitMine at the forefront of cryptocurrency investment, with its Ethereum treasury ranking first worldwide. It is also noteworthy that BitMine currently holds the second-largest crypto treasury overall, closely following Strategy, which boasts 638,460 Bitcoin valued at around $71 billion.
Why is BitMine focused on Ethereum and what strategies are they implementing? CEO Thomas Lee has expressed confidence that a convergence of Wall Street’s move into blockchain technologies and advancements in AI is fostering a supercycle for Ethereum. Furthermore, Lee indicates that acquiring 5% of the Ethereum supply is central to their strategy, leveraging the power law that benefits large holders.
Recently, the company announced a strategic investment of $20 million in Eightco Holdings as part of OCTO's $270 million PIPE, signaling the launch of its "Moonshot" strategy. This initiative allocates about 1% of BitMine’s balance sheet to strengthen the Ethereum ecosystem, showing a commitment to furthering the growth and adoption of Ethereum.
BitMine has become one of the most actively traded stocks in the United States. As of September 5, 2025, it displayed a robust five-day average trading volume of $1.7 billion. This enviable trading rate places it at position #30 among US-listed stocks, alongside notable companies such as Bank of America Corp and Exxon Mobil Corp.
Institutional support also plays a vital role in BitMine's expansion into Ethereum investing. The company has attracted backing from prominent investors, including Cathie Wood from ARK, along with investment firms such as MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital. This backing underscores BitMine's strategy to increase its Ethereum holdings.