Bitmine builds $2.9B Ethereum treasury in just over a month

Bitmine Immersion Technologies has acquired over 833,000 Ethereum (CRYPTO:ETH) tokens, valued at more than $2.9 billion as of early August 2025. 

This accumulation positions Bitmine as the top corporate holder of Ethereum and the third-largest holder of cryptocurrency treasuries worldwide behind MicroStrategy and Marathon Digital. 

The company’s treasury build took place between June 30 and July 8 with the objective of securing 5% of Ethereum’s total supply as part of its financial strategy. 

“Bitmine moved with lightning speed in its pursuit of the ‘alchemy of 5%’ of Ethereum, growing our holdings to over 833,000 from zero 35 days ago,” Thomas Lee, Chairman of Bitmine’s Board of Directors, stated.

“We have separated ourselves among crypto treasury peers by both the velocity of raising crypto net asset value per share and by the high liquidity of our stock,” he added.

The acquisition is supported by institutional investors including Bill Miller III, senior advisor at Miller Value Partners, alongside Cathie Wood’s ARK Invest, Founders Fund, Pantera, Kraken, Digital Currency Group (DCG), and Galaxy Digital. 

Bitmine’s market activity has increased in parallel with its Ethereum holdings, with the company’s stock trading at an average daily volume of approximately $1.6 billion. 

This trading level ranked Bitmine 42nd in liquidity among all U.S.-listed equities, positioned just behind Uber. 

The company’s strategic focus on Ethereum signals a distinct commitment to incorporating digital assets into its treasury holdings. 

At the time of reporting, ETH price was $3,582.29.