BitMine Immersion Technologies announced its total assets have reached $10.8 billion, cementing its position as the largest Ethereum holder globally and the second-largest overall crypto treasury. The firm disclosed holdings of 2,151,676 ETH, valued at $4,632 each, alongside 192 BTC and a cash balance of $569 million. It also holds a $214 million stake in Eightco.
This milestone follows BitMine’s September 11 acquisition of 46,255 ETH worth $201 million, executed through BitGo wallets. Just weeks earlier, in late August, BitMine reported $8.98 billion in holdings, marking rapid growth in reserves.
Chairman Thomas “Tom” Lee outlined the company’s long-term strategy in its investor presentation “The Alchemy of 5%,” targeting ownership of 5% of Ethereum’s supply. He highlighted Wall Street’s increasing blockchain integration and the rise of agentic AI as catalysts for a potential Ethereum supercycle. BitMine’s aggressive accumulation underscores its belief in Ethereum’s central role in future financial and technological systems.
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