BitMine Boosts Ethereum Reserves, Closing In On Treasury Target

Ethereum-focused treasury firm BitMine Immersion continues to build its Ethereum reserves. The company recently bought 40,302 ETH in its latest weekly purchase, bringing its total holdings to 4,243,338 ETH. At current prices, this stash is valued at around $12.3 billion.

While BitMine has not shared its average purchase price, the newly acquired Ethereum alone is worth about $117 million. Alongside Ethereum, the firm also holds 193 Bitcoin, large cash reserves, and strategic investments in companies such as Eightco and MrBeast’s Beast Industries.

BitMine now controls roughly 3.52% of Ethereum’s circulating supply, highlighting its growing influence as one of the largest institutional holders of ETH.

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