BitMine Adds $821M In Ether, Total Holdings Reach $13.4B

BitMine Immersion Technologies (BMNR), led by Fundstrat’s Thomas Lee, has expanded its Ethereum holdings by purchasing 179,251 ETH valued at about $821 million.

This brings the firm’s total Ether holdings to over 2.83 million tokens—representing more than 2% of Ethereum’s total supply.

According to its latest statement, BitMine’s combined cash and crypto reserves now total $13.4 billion, including $456 million in cash, 192 Bitcoin, and an equity position in Eightco Holdings.

BitMine’s aggressive accumulation aligns with its June strategy shift toward a “digital asset treasury” model similar to Michael Saylor’s playbook at Strategy.

The firm aims to control up to 5% of ETH’s supply and generate yield through staking. Lee emphasized confidence in Ethereum’s long-term value, saying, “AI and crypto remain the two dominant supercycle investment narratives, and ETH’s current price is a discount to its future.”

BitMine now ranks as the largest listed Ethereum treasury holder globally.

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