BitMine Immersion Technologies (BMNR) added 23,823 ETH, worth $103.7 million, to its corporate Ethereum treasury on Thursday.
Citing data from Arkham, Lookonchain reported that the company received the ETH from a BitGo wallet through the address “0xF8c … 338E7.” While the wallet is unmarked on Arkham, Lookonchain identified the wallet as Bitmine’s.
BitMine has not confirmed the reported acquisition. The Block has reached out to BitMine for confirmation.
Officially, Bitmine holds 2.83 million ETH, which is worth around $12.4 billion. The treasury firm, led by Fundstrat co-founder Tom Lee, is currently the largest ETH treasury and the second-largest crypto treasury, behind Michael Saylor’s Strategy.
Bitmine has stated on multiple occasions that it aims to accumulate 5% of Ethereum’s total supply and is committed to supporting Ethereum’s growing role in financial market services.
BMNR traded down 1.5% on Thursday, closing markets at $59.10. Ethereum is also down 1.4% over the past 24 hours, trading at $4,384, according to The Block’s ETH price page.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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