Ethereum (ETH) Treasury News; BitMine (BMNR) Buys $821M Ether
October 6, 2025
By Krisztian Sandor, AI Boost|Edited by Stephen Alpher
Oct 6, 2025, 1:14 p.m.
- BitMine Immersion Technologies added 179,251 ether to its balance sheet last week, bringing holdings to over 2.83 million tokens.
- The company’s total crypto and cash reserves are valued at $13.4 billion, including $456 million in cash and 192 bitcoin and its stake in Worldcoin-focused treasury firm.
- BitMine aims to control 5% of ether’s supply and is currently the second largest listed crypto treasury firm only trailing Strategy.
BitMine Immersion Technologies (BMNR), the Ethereum-focused digital asset treasury firm led by Fundstrat’s Thomas Lee, continued to buy ether ETH$4,005.03 adding 179,251 tokens to its balance sheet through last week, worth roughly $820 million at current prices.
With the latest purchase, the firm’s ETH stash surpassed 2.83 million tokens, more than 2% of the second largest cryptocurrency’s supply, according to a Monday press release.
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Shares are up 4% premarket alongside the weekend gains in crypto prices.
The company said total crypto and cash reserves stand at $13.4 billion, including $456 million in cash, 192 bitcoin BTC$125,094.86, and a stake in Eightco Holdings (ORBS), a digital asset treasury vehicle focused on WLD$1.2833.
BMNR stock was up 4.3% pre-market at just over $59, its strongest level in two weeks.
Since the firm’s June pivot, BitMine is part of the digital asset treasury trend where publicly-traded firms raise funds to accumulate cryptocurrencies, following the playbook of Michael Saylor’s Strategy, the world’s largest corporate bitcoin owner.
BitMine aims to corner 5% of ether’s supply and generate yield by staking the tokens. The firm currently ranks as the largest listed ETH treasury firm and only trails the bitcoin-focused Strategy’s BTC holdings among all crypto treasury firms.
“We remain confident that the two supercycle investing narratives remain [artificial intelligence] AI and crypto,” chairman Thomas Lee said in a statement. “Since ETH’s price is a discount to the future, this bodes well for the token and is the reason BitMine’s primary treasury asset is ETH.”
Read more: How Ethereum’s Fusaka Upgrade Could Be a Game-Changer, Asset Manager VanEck Explains
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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The update applies to Grayscale’s Ethereum Trust ETF, Ethereum Mini Trust ETF, and Solana Trust, which have a combined $8.25 billion in assets under management.
What to know:
- Grayscale has added staking to its ether and solana investment products, allowing investors to earn rewards while participating in the security of these networks.
- The update applies to Grayscale’s Ethereum Trust ETF, Ethereum Mini Trust ETF, and Solana Trust, which collectively manage $8.25 billion in assets.
- By offering staking through its exchange-traded products (ETPs), Grayscale becomes the first firm to provide this feature in the U.S., the firm said.
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