BitMine Boosts Ethereum Stash Above $8 Billion, Now Holds 1.5% of ETH Supply
The post BitMine Boosts Ethereum Stash Above $8 Billion, Now Holds 1.5% of ETH Supply appeared on BitcoinEthereumNews.com.
In brief BitMine Immersion Technologies recently purchased 153,000 Ethereum. It now owns roughly 1.5% of the asset’s supply, with its stash valued above $8 billion. Ethereum is having a “1971 moment,” Tom Lee said. BitMine Immersion Technologies recently purchased 153,000 Ethereum, taking a $655 million step toward its goal of owning 5% of the asset’s supply, according to a press release. The Las Vegas-based firm now owns roughly 1.86 million Ethereum worth $8.1 billion. The company, which initiated its Ethereum treasury strategy in late June, currently owns 1.5% of the 120.7 million Ethereum in existence, according to crypto data provider CoinGecko. BitMine is the largest corporate holder of Ethereum, according to Strategic Ethereum Reserve. The firm owns more Ethereum than the combined holdings of Ethereum treasury firms SharpLink Gaming and The Ether Machine, as well as the non-profit Ethereum Foundation. In a video shared on Monday, Fundstrat co-founder Tom Lee, who serves as chair of BitMine’s board, said Ethereum is in the midst of having a “1971 moment.” That year, the U.S. government moved away from the gold standard, making the greenback “synthetic,” he said. Innovation in financial services boomed after the gold standard was abandoned, with the advent of money market funds and debit cards presenting notable examples, Lee said. The next decade could be marked by the adoption of stablecoins and tokenized equities, he added, with this summer’s passage of the stablecoin-focused GENIUS Act driving adoption on-chain. As artificial intelligence systems become more sophisticated, AI could build on the blockchain, too, Lee posited. “In 2025, as the real word becomes digital, it’s going to be natural to say, ‘I want to find a digital store of value,’ and that’s Bitcoin,” Lee said. “But it’s going to create a market for digital assets, and we think the winner…
Filed under: News - @ September 3, 2025 4:24 am