BitMine Expands Ethereum Holdings, Strengthening Its Position in Crypto Treasury Strategy
October 6, 2025
BitMine Immersion Technologies (AMEX:BMN) has significantly boosted its Ethereum (COIN:ETHUSD) holdings, now owning 2.83 million ETH tokens, as part of a broader effort to expand its digital asset treasury. The company’s total cash and crypto reserves have reached $13.4 billion, including $456 million in cash and 192 bitcoins.
Last week alone, BitMine acquired 179,251 ETH, valued at roughly $821 million at current market prices. The purchase lifted BitMine’s stake to over 2% of the total Ethereum supply, securing its status as the largest corporate holder of Ethereum-linked assets.
Under the leadership of Fundstrat’s Thomas Lee, BitMine has previously outlined its long-term goal of controlling up to 5% of all ether in circulation. The company aims to generate yield through staking and establish itself as a benchmark for institutional Ethereum treasury management.
At the time of the announcement, ETH was trading near $4,570, reflecting a weekly gain of more than 10%, driven in part by Bitcoin’s recent record-breaking rally.
With this latest expansion, BitMine now ranks second only to Strategy (NASDAQ:MSTR) among publicly traded companies holding cryptocurrencies. Both firms are at the forefront of the trend of corporations converting cash reserves into crypto assets.
BMNR shares climbed 8.5% on Monday morning, October 6, 2025, reaching $61.50, as investors showed renewed confidence in the cryptocurrency sector.
According to Lee, “the two dominant narratives of the supercycle remain artificial intelligence and cryptocurrencies.” He added that ETH’s current price “represents a discount relative to the future,” explaining BitMine’s decision to keep expanding its holdings as the market continues to strengthen.
BitMine Immersion Technologies stock price
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