TLDR
- BitMine has increased its Ethereum treasury to more than 2 million ETH.
- The total value of BitMine’s Ethereum holdings has exceeded $8.5 billion.
- BitMine remains the largest corporate holder of Ethereum in the world.
- The company also holds 192 Bitcoin and has $266 million in cash reserves.
- BitMine launched a $20 million strategic investment in Eightco Holdings.
BitMine has officially surpassed the 2 million Ethereum (ETH) mark, now holding assets valued at over $8.5 billion. This development strengthens BitMine’s position as the world’s largest Ethereum treasury holder. The update follows last week’s total of 1.8 million ETH, marking a rapid rise in accumulation.
BitMine Surpasses 2 Million Ethereum Mark
BitMine continues expanding its Ethereum treasury, which now totals over 2 million ETH, reflecting rapid growth and strategic conviction. The ETH value on its books has climbed past $8.5 billion, up from $7.4 billion last Tuesday. This increase positions BitMine ahead of all other corporate ETH holders globally.
Chairman Thomas “Tom” Lee reaffirmed BitMine’s long-term ETH strategy by stating, “The power law benefits large holders of ETH, hence, we pursue the ‘alchemy of 5%.’” The company aims to secure 5% of Ethereum’s supply and actively aligns its roadmap to support this mission. Moreover, BitMine remains focused on benefiting from blockchain-AI convergence and token economy expansion.
Cash Reserves and Bitcoin Holdings Remain Steady
BitMine holds 192 Bitcoin and reported $266 million in cash, showing balance sheet diversity beyond its Ethereum treasury. This combination reinforces the firm’s financial position as it executes its ETH-driven strategy. Despite limited Bitcoin growth, its Ethereum holdings continue to dominate focus.
Additionally, BitMine’s growing crypto dominance makes it the second-largest overall crypto treasury behind Strategy. Strategy’s 638,460 Bitcoin are worth around $71 billion, far surpassing other corporate holders. BitMine, however, leads in Ethereum and continues aggressive accumulation.
New Strategic Investment Launches ‘Moonshot’ Plan
BitMine has invested $20 million in Eightco Holdings through OCTO’s $270 million PIPE. This move initiates BitMine’s “Moonshot” strategy, allocating 1% of its balance sheet to Ethereum ecosystem support. The investment also signals a broader push into strategic blockchain projects.
BitMine stock is now among the most actively traded in the U.S. by volume. It ranks 30th with a five-day average of $1.7 billion in trades. Major institutional investors, including ARK’s Cathie Wood and Pantera, continue backing BitMine’s expansion of its Ethereum treasury.
