BitMine Now Owns 2% Of Ethereum, Raises $365M To Buy More

BitMine Technologies has emerged as the world’s largest corporate Ethereum holder, announcing it owns 2.4 million ETH—over 2% of the total supply—valued at $10.1 billion. The company accumulated coins at an average of $4,500 each, around 7% higher than current market prices.

According to Strategic ETH Reserve data, BitMine’s holdings surpass SharpLink Gaming, which owns 838,150 ETH, by a wide margin. Combined with its equity and cash, BitMine’s assets now total $11.4 billion, placing it among the top crypto treasuries alongside Strategy Inc.

To expand its Ethereum position, BitMine sold 5.22 million shares at $70 each, raising $365 million, and issued 10.4 million warrants exercisable at $87.50. If fully executed, the warrants could generate another $913 million.

Despite short-term paper losses, BitMine views Ethereum as a cornerstone of its treasury. The company’s aggressive buying this month lifted its share of ETH supply from 1.5% to over 2%, cementing its position as a dominant corporate holder.

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