BitMine Surpasses 2.65 Million ETH, Emerges as Largest Corporate Ethereum Holder

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Bitmine Immersion Total ETH Holdings Hits Over $8 Billion

  • BitMine holds over 2.65 million ETH, surpassing all other corporate Ethereum treasuries.
  • Its crypto and cash reserves total $11.6 billion, including BTC, ETH, Eightco stake, and unencumbered cash.
  • BitMine aims to acquire 5% of ETH’s supply and ranks 26th in U.S. equity trading volume.

BitMine Immersion has taken the top spot in corporate Ethereum holdings after acquiring a significant amount of ETH last week. The company now owns over 2.65 million ETH, valued at around $10.8 billion. This figure is more than three times larger than the next closest corporate holder of Ethereum. BitMine’s ETH position represents approximately 2.2% of the current circulating supply of Ethereum, which stands near 120.7 million ETH.

Weekly Acquisition Pushes Holdings to New Highs

As of its latest update on Monday, BitMine purchased about 234,846 ETH, spending nearly $961.5 million. This transaction raised the company’s total crypto and cash holdings to roughly $11.6 billion. The newly added Ethereum has firmly established BitMine’s dominance in corporate ETH reserves.

BitMine’s treasury now includes additional assets such as 192 BTC, worth around $21.5 million. It also holds a $157 million position in the WLD treasury firm Eightco and maintains $436 million in unencumbered cash.

Ethereum Holdings Outpace Competitors

According to data from SER, BitMine is now the largest corporate holder of Ethereum. SharpLink, led by Joe Lubin, holds about 838,730 ETH. The Ether Machine follows with around 495,360 ETH in its reserves. BitMine’s current position places it well ahead of these companies.

While BitMine leads in Ethereum, it ranks second in overall public crypto treasury value. Michael Saylor’s company, Strategy, remains at the top with 640,031 BTC, worth approximately $71.8 billion. Strategy’s Bitcoin reserves make up over 3% of the total 21 million BTC supply.

Strategic Backing and Long-Term Accumulation Goal

BitMine is supported by institutional investors, including Ark Invest, Founders Fund, Kraken, Galaxy Digital, and others. The company aims to accumulate 5% of Ethereum’s circulating supply. At current levels, this target equals around 6.04 million ETH. 

As of now, BitMine has already secured more than one-third of that goal, positioning it to expand further. BitMine has also become one of the most actively traded public companies in the United States. As of September 26, its five-day average daily volume reached $2.6 billion. 

That figure places it 26th nationwide, just behind Marvell Technology and ahead of Visa, based on Fundstrat and Statista data. According to BitMine, it leads in both crypto NAV growth per share and trading liquidity compared to other crypto treasury firms.

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