Blockchain data reveals that BitMine Immersion Technologies has added 23,823 ETH, valued at roughly $103.7 million, to its corporate Ethereum treasury.
According to Lookonchain, the ETH was transferred from a BitGo wallet to an address linked to BitMine, though the company has yet to officially confirm the acquisition.
Led by Fundstrat co-founder Tom Lee, BitMine now holds an estimated 2.83 million ETH worth around $12.4 billion—making it the largest Ethereum treasury globally and the second-largest crypto treasury overall after Michael Saylor’s Strategy.
BitMine’s long-term goal is to accumulate up to 5% of Ethereum’s total circulating supply.
The firm says its strategy focuses on supporting Ethereum’s expanding role in global financial markets, particularly in tokenization and DeFi.
This latest purchase reinforces the growing corporate shift toward holding Ethereum as a strategic asset, not just a blockchain utility token, signaling increased institutional confidence in the network’s economic value.
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