BitMine has solidified its position as the top institutional holder of Ethereum. The company recently announced a major addition to its digital asset reserves. This move pushes their total ETH holdings past 2.15 million units. It signals a bold push into the future of digital finance.
The firm, led by Tom Lee, reported its combined crypto and cash reserves. These totaled an impressive $10.8 billion. The latest acquisition added another 82,233 ETH to their treasury. This new purchase alone was worth $370 million.
BitMine’s Ethereum stash now stands at 2,151,676 ETH. This massive holding is valued at approximately $9.75 billion. Beyond ETH, the company also owns 192 Bitcoin, worth $22.1 million. They hold a $214 million stake in the treasury firm WLD Eightco. Plus, there’s $569 million in cash ready for use. This detailed breakdown was noted in recent reports, including those by The Block.
BitMine’s Ambitious Ethereum Play
BitMine isn’t just collecting crypto; it’s following a clear strategy. The company aims to control 5% of all Ethereum currently circulating. That would be about 6.04 million ETH at today’s rates. This aggressive goal helps BitMine keep its lead as the biggest institutional ETH owner.
Other big players in the Ethereum space follow BitMine. SER data shows SharpLink, headed by Joe Lubin, holds about 837,230 ETH. The Ether Machine comes in next with 495,360 ETH. However, BitMine remains at the top for now.
Looking at the wider crypto world, BitMine is the second-largest public crypto treasury overall. Only Michael Saylor’s MicroStrategy holds more. MicroStrategy has 638,985 Bitcoin, valued at a staggering $73.5 billion.
BitMine has strong backing from major investors. These include Cathie Wood’s Ark Invest, Founders Fund, and Bill Miller III. Other supporters are Pantera, Kraken, DCG, and Galaxy Digital. Their confidence highlights BitMine’s important role in the crypto market.
Tom Lee on Ethereum’s Future
Tom Lee, BitMine’s leader, sees a huge future for Ethereum. He stated that hitting over 2 million ETH and nearly $11 billion in crypto shows their vision. Lee believes Wall Street’s move to blockchain, along with AI’s rise, is fueling a “supercycle” for Ethereum. This situation greatly benefits big ETH holders.
Lee calls their goal the “alchemy of 5%.” He thinks Ethereum is a top investment for the next 10 to 15 years. He added that Wall Street and AI shifting to blockchain will deeply change the current financial system. He expects most of this change to happen on the Ethereum network. This view shows how vital Ethereum is for the future of digital finance.
The market has reacted positively to BitMine’s bold moves. Its stock, BMNR, is highly traded in the U.S., ranking 28th. About $2 billion worth of shares change hands daily over the past five days.
BMNR shares closed up 15.3% at $55.09 last Friday. Even with a small 1.8% dip in pre-market trading on Monday, reported by TradingView, the yearly growth is huge. The stock has surged 572% this year. This shows how much investors believe in the company’s strong crypto strategy.
BitMine is doing more than just building a massive treasury. It’s creating a bridge for traditional investors into the blockchain world. The company aims to be a key player in a new financial system built on Ethereum and other digital assets.