BitMine Immersion Technologies (BMNR) has strengthened its Ethereum strategy with a purchase of 234,846 ETH worth $936 million, bringing total holdings to 2.65 million ETH—valued above $10 billion.
This makes BitMine the largest Ethereum treasury globally and second overall in corporate crypto holdings, trailing only MicroStrategy’s Bitcoin stash.
Co-founder Tom Lee described Ethereum as a “neutral chain” and predicted a 10–15 year super cycle. BitMine’s long-term vision, called the “Alchemy of 5%,” aims to control 5% of ETH’s total supply, leveraging the “power law” benefits for major holders.
Currently, the company owns more than 2% of ETH in circulation. Aside from ETH, BitMine maintains a $157 million stake in Eightco Holdings and holds $436 million in cash reserves, reflecting strong balance-sheet health. The firm is also among the 30 most traded U.S. stocks by daily volume, underscoring broad investor interest.
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