BitMine Immersion Technologies has expanded its position as the world’s largest Ethereum corporate treasury, adding another 102,259 ETH worth an estimated $321.1 million last week as part of its long-term bid to accumulate 5% of the asset’s total supply.
The NYSE American–listed company (ticker BMNR) disclosed Monday that its holdings now stand at 3,967,210 ETH bought at an average price of $3,074 per ether. That would value the digital asset treasury near $12.5 billion at current prices.
BitMine’s stash also represents just over 3.2% of all circulating ether. The firm also holds 193 bitcoin, $1 billion in cash, and a $38 million strategic stake in Eightco Holdings, bringing its combined crypto, cash, and “moonshot” investments to about $13.3 billion as of Monday.
The latest increase follows two consecutive weeks of accelerated accumulation and comes after a quieter November, which BitMine attributed to market volatility tied to the Oct. 10 price shock. Ether is trading near $3,120, while BMNR shed 6% following today’s disclosure.
BitMine Chairman Tom Lee said the firm continues to see structural tailwinds for Ethereum, citing the regulatory and legislative shifts in Washington in 2025 alongside stronger institutional engagement.
“Crypto prices have stabilized in the past week, further evidence that recovery is underway,” Lee said. “These developments strengthen our conviction that the best days for crypto are ahead and why we continue to accumulate ETH towards our ‘alchemy of 5%’ target.”
BitMine’s growth has elevated it to the top ETH treasury globally and the second-largest corporate crypto treasury overall, behind Strategy (formerly MicroStrategy), which holds roughly 660,624 BTC valued at $59 billion.
The company also reiterated plans to deploy its Made in America Validator Network — MAVAN — in early 2026, positioning it as a “best-in-class” staking solution designed to complement its ETH accumulation strategy.
Monday’s update arrives alongside renewed industry attention on Ethereum’s role in tokenization.
On Friday, Lee posted on X that “Ethereum is the future of finance,” referencing JPMorgan’s move to launch a tokenized money-market fund on Ethereum — a development widely viewed as another data point in institutional adoption trends.
© 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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