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4h ago

BitMine Takes ETH Stash to 2.83 Million, Becomes No. 2 Crypto Treasury by Value

BMNR shares jumped after the holdings update, reinforcing the stock’s status as a direct proxy for Ethereum.

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Bitmine immersion added $821m in ether, bringing cash and crypto holdings to $13.4b
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Tom Lee's BitMine acquires 179,251 ETH in the past week

Overview

  • The company bought 179,251 ETH last week, lifting its ether to 2.83 million—just over 2% of circulating supply.
  • Combined crypto and cash now total $13.4 billion, including $456 million in cash, 192 bitcoin and a $113 million stake in Eightco.
  • BitMine reported an average purchase price of $4,535 per ETH for the latest buys, below prevailing market levels at the time.
  • The firm holds the largest corporate Ethereum treasury and trails only Strategy in overall crypto holdings after surpassing Marathon Digital.
  • Management continues to target ownership of up to 5% of ETH supply and says it plans to stake tokens to generate yield.