Bitmine Immersion has amassed over 833,000 ETH worth $2.9 billion, making it the world’s largest ethereum treasury. Backed by top investors, the company now ranks as the third-largest corporate crypto holder globally, behind MicroStrategy and MARA.
Bitmine Becomes World’s Largest ETH Treasury With $2.9 Billion in Holdings
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BMNR Surges in Liquidity Rankings as Treasury Strategy Hits 833,000 ETH
Bitmine Immersion Technologies (Nasdaq: BMNR) has cemented its position as the largest ethereum treasury globally, with holdings surpassing 833,000 ETH valued at over $2.9 billion as of August 3.
This milestone puts Bitmine ahead of all other companies in ETH accumulation and 3rd overall in the corporate crypto treasury race, trailing only MicroStrategy and Marathon Digital (MARA).
Bitmine’s aggressive treasury strategy, launched on June 30 and finalized on July 8, has quickly reshaped the corporate crypto landscape. The company’s goal: acquire 5% of ETH’s total supply, signaling a bold commitment to ethereum as a core financial asset.
Thomas Lee of Fundstrat, Chairman of Bitmine’s Board of Directors, shed light on the company’s aggressive ETH strategy.
Bitmine moved with lightning speed in its pursuit of the ‘alchemy of 5%’ of ETH, growing our ETH holdings to over 833,000 from zero 35 days ago. We have separated ourselves among crypto treasury peers by both the velocity of raising crypto NAV per share and by the high liquidity of our stock.
Backing this strategy is an elite group of institutional investors, including Bill Miller III, legendary value investor and senior advisor to Miller Value Partners, alongside Cathie Wood’s ARK Invest, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital.
BMNR’s market presence has surged in tandem with its ETH accumulation. Fundstrat data shows the stock now trades an average of $1.6 billion daily, ranking 42nd among all U.S.-listed equities, just behind Uber, and placing it among the most liquid stocks in the market.
