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BitMine Lifts Ethereum Treasury to 2.65M ETH, Adds Fresh On-Chain Buys as Rivals Mobilize

A stated push toward 5% ownership with large OTC settlements is spurring competitors like BitDigital to raise new funds.

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Tom Lee's BitMine adds 234,846 Ethereum, total holdings top 2.6 million ETH
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Overview

  • BitMine reports holdings of 2,650,900 ETH—more than 2% of supply—with total crypto, cash and equity assets around $11.6 billion.
  • The company added about 234,846 ETH over the last week, and on Sept. 30 on-chain data showed 25,369 ETH arriving from FalconX plus 4,985 ETH moved to new wallets.
  • Accumulation has been executed through institutional OTC providers such as Galaxy Digital and BitGo, with transfers traced by on-chain trackers to newly created wallets.
  • BMNR shares rose roughly 5–6% intraday following the disclosure, and Fundstrat data ranks the stock 26th in the U.S. by average daily dollar volume at $2.6 billion.
  • With a goal to control 5% of circulating ETH, BitMine’s strategy is intensifying competition as BitDigital announces a $100 million convertible notes offering to buy more Ether.