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5h ago

BitMine Adds $46 Million in ETH, Extends Lead as Biggest Corporate Holder

A fresh $46 million purchase lifts holdings to about 1.58 million ETH, heightening concern over concentration.

Ethereum treasury BitMine now holds over $8 billion in Ether, Bitcoin, and cash
Bitmine's eth holdings top 1.7m tokens, with $562m of buying power remaining
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Overview

  • On-chain data shows BitMine bought roughly 9,600 ETH for about $45–46 million, taking its treasury to around 1.58 million ETH valued near $7.5 billion.
  • ETH set a new all-time high near $4,954 over the weekend before retracing, and BitMine shares fell more than 6% in pre-market trading as other ETH-treasury stocks also slipped.
  • Corporate Ethereum treasuries have grown to roughly $19 billion, with SharpLink holding over 740,000 ETH and The Ether Machine above 345,000 ETH, according to StrategicETHReserve data.
  • BitMine’s recent accumulation follows a July pivot steered by new chairman Tom Lee, with backing reported from ARK Invest and Pantera Capital and a stated long-term goal of reaching 5% of ETH supply.
  • Ethereum co-founder Vitalik Buterin has warned that aggressive corporate hoarding could turn into “leveraged poker,” increasing the risk of forced liquidations in a downturn.