TLDR:

BitMine purchased 203,800 Ethereum in one week, pushing total holdings to 3.24 million ETH worth $13.4 billion.
The company now controls 2.7% of Ethereum’s circulating supply, moving closer to its 5% accumulation goal.
BitMine ranks as the largest Ethereum treasury globally and trades over $2.1 billion in daily stock volume.
Backed by top investors, BitMine leads peers in crypto NAV growth and trading liquidity on the U.S. markets.

BitMine Immersion Technologies is doubling down on Ethereum. 

The company revealed that it purchased more than 203,000 ETH last week, pushing its total holdings to over 3.24 million tokens. That stash is now worth roughly $13.4 billion, combining crypto, cash, and equity stakes. 

The move cements BitMine’s position as the world’s largest Ethereum treasury. The update came via a press release published on October 20 and shared by Wu Blockchain on X.

BitMine’s Ethereum Strategy and Market Position

According to the company, BitMine’s holdings now represent about 2.7% of all Ethereum in circulation. It’s an aggressive accumulation plan that aims to reach what the firm calls the “Alchemy of 5%.” 

Chairman Thomas “Tom” Lee said the latest purchase came during a period of market volatility that offered an attractive risk-to-reward ratio.

BitMine’s crypto and cash portfolio now includes $219 million in cash, 192 Bitcoin, and $119 million in equity of Eightco Holdings. The company described this mix as its “crypto + cash + moonshots” strategy, combining stable reserves with high-upside assets.

With this position, BitMine stands as the largest Ethereum treasury in the world and the second-largest overall crypto holder behind MicroStrategy. While MicroStrategy’s Bitcoin holdings dominate the market, BitMine has chosen to focus on Ethereum’s long-term growth potential.

Fundstrat data shows BitMine trades roughly $2.1 billion in average daily volume, making it the 33rd most traded U.S. stock. The firm’s liquidity has drawn steady institutional attention from major backers like Cathie Wood’s ARK Invest, Founders Fund, and Galaxy Digital.

Institutional Confidence and Long-Term Goals

Lee said BitMine continues to attract capital due to its high liquidity and transparent accumulation strategy. 

He compared today’s crypto transition to the U.S. financial shifts of 1971 that reshaped Wall Street. According to him, projects like the SEC’s Project Crypto and the GENIUS Act could drive similar modernization across finance.

Institutional investors appear to be betting on that vision. 

The company’s stock, listed on NYSE American under BMNR, now trades more actively than some established S&P 500 names. Its trading activity sits between Costco and Eli Lilly, showing the level of investor engagement around its crypto-centric model.

BitMine’s rapid asset growth reflects broader interest in Ethereum as the market anticipates the next bullish cycle. The company plans to keep building toward its 5% supply target while maintaining what it calls “velocity in crypto NAV growth.”

If it hits that milestone, BitMine would own one-twentieth of Ethereum’s entire token supply, a number that could reshape how institutions measure crypto treasuries in the years ahead.

The post BitMine Bought 203,800 Ethereum, Owns 2.7% of the Entire ETH Supply appeared first on Blockonomi.

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Filed under: Bitcoin - @ October 20, 2025 2:26 pm