BitMine Immersion Applied sciences stated it’s positioning itself as the most important holder of ETH amongst company treasuries, accumulating 833,137 ETH valued at over $2.9 billion as of August 3.
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It has been 1-month since BitMine launched ETH Treasury technique.
2 milestones introduced immediately:
– BMNR now owns 833,137 ETH valued at $2.95 billion
– Invoice Miller III introduced he has taken a significant stake in BMNRhttps://t.co/2w77JQkR8J
Ticker: $BMNR— Bitmine BMNR (@BitMNR) August 4, 2025
Priced at $3,491.86 per ETH, the corporate stated it now controls roughly 5% of the entire circulating ETH provide, a feat achieved in simply 35 days.
This vaults BitMine previous different institutional holders, putting it behind solely MicroStrategy and Marathon Blockchain in total crypto treasury dimension.
Launched on June 30 and closed on July 8, BitMine’s Ethereum Treasury technique has quickly developed right into a daring and aggressive accumulation play—one which seems to be designed for each long-term conviction and short-term market visibility.
Fast Progress and Market Recognition
Thomas Lee, chairman of BitMine’s board and co-founder of Fundstrat, explains the tempo and intent behind the corporate’s Ethereum push.
“BitMine moved with lightning pace in its pursuit of the ‘alchemy of 5%,’” stated Lee, referring to the corporate’s purpose of capturing 5% of all ETH. “We’ve separated ourselves from crypto treasury friends not simply by our holdings, however by the liquidity of our inventory.”
BitMine’s widespread inventory (BMNR) has grow to be one of the crucial actively traded equities within the U.S. Based mostly on Fundstrat information, the inventory’s five-day common each day greenback quantity stands at $1.6 billion, rating it forty second amongst 5,704 U.S.-listed shares—only one place behind Uber Applied sciences.
Backed by Veteran Traders
Amongst BitMine’s high-profile backers is progress investor Invoice Miller III, recognized for his early wager on MicroStrategy in 2020. Miller has publicly endorsed BitMine’s ETH technique and famous its future income potential via Ethereum staking.
“What’s intriguing is BitMine is about to be very worthwhile as soon as the corporate activates ETH staking,” Miller stated.
He praised Lee’s management and capital allocation self-discipline, drawing comparisons to Michael Saylor’s Bitcoin pivot at MicroStrategy. Miller described the workforce as rational, independently minded, and evidence-driven.
On-chain Developments Point out Structural Bullishness for ETH
Presently, 6.73% of all ETH, or about 8.12 million tokens price over $31 billion, are held collectively by firms and ETFs, in keeping with information from Strategic ETH Reserve (SER).
The entire strategic Ethereum reserves account for two.33 million ETH, valued at $8.9 billion and representing 1.93% of the entire ETH provide. The reserves embody 65 members and have seen a gentle enhance in holdings since mid-April, with a pointy rise starting in late June.
The submit BitMine Immersion’s $2.9B ETH Haul Tops 5% of Provide – However Can the Run Final? appeared first on Cryptonews.