BitMine Immersion Technologies (ticker BMNR) said Monday its ether holdings have climbed to about 2.83 million tokens, lifting its combined crypto and cash stash to $13.4 billion as the largest corporate ETH treasury.
The Block has previously reported BitMine’s ether accumulation blitz — from 566,776 ETH in July to 2.65 million by late September — as it solidified its ranking above other corporate holders. Indeed, Bitmine sits atop The Block’s corporate ETH treasuries leaderboard and was the No. 2 corporate crypto treasury overall, behind Strategy, which holds the industry’s biggest bitcoin cache.
The new tally follows BitMine’s Sept. 29 disclosure of 2.65 million ETH. By that comparison, holdings have risen by roughly 180,000 ETH in about a week. It implies that the Ethereum-focused digital asset treasury company spent approximately $821 million buying ether last week.
In Monday’s update, BitMine also reiterated its goal to acquire up to 5% of ETH’s total supply, an ambition the company and chairman Tom Lee have flagged in recent statements and regulatory exhibits. The firm has framed its accumulation as a long-term treasury strategy tied to Ethereum’s role in financial-market infrastructure and AI-related workloads.
According to The Block’s price page, ETH has traded around the mid-$4,000s in recent sessions, boosting the dollar value of on-balance-sheet holdings for corporate treasuries like BitMine’s. ETH changes hands around $4,570 at the time of writing, up over 10% in the past week amid a cryptocurrency market surge spurred by BTC’s leap to a new all-time high.
© 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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