Company Now Controls More Than 2% of Total ETH Supply
BitMine Immersion Technologies has announced a significant increase in its Ethereum treasury, bringing total holdings to 2.66 million ETH. At current prices, the stake represents more than 2% of Ethereum’s total circulating supply, cementing the firm’s status as the leading corporate holder of Ether.
$11.6 Billion Balance Sheet With Crypto, Cash and “Moonshots”
According to the company’s Sunday evening disclosure, its combined assets in crypto, cash and high-risk equity investments total $11.6 billion. The breakdown includes 192 BTC, $157 million in early-stage “moonshot” equities, and $436 million in unencumbered cash.
The company’s ether balance jumped by about 200,000 ETH since its last update, an increase valued near $820 million. Executives described this accumulation as part of a long-term goal to control 5% of all ETH in circulation, which they call the “alchemy of 5%.”
Ethereum as Core Treasury Asset
Tom Lee, head of research at Fundstrat and chairman of BitMine, emphasized that Ethereum remains the firm’s primary treasury asset:
“These two powerful macro cycles—crypto and AI—will play out over decades. Since ETH’s price is a discount to the future, this bodes well for the token and is the reason BitMine’s primary treasury asset is ETH.”
The company views Ethereum not only as a store of value but as a direct way to benefit from the network’s long-term adoption and scalability upgrades.
BitMine’s accumulation has widened the gap over its nearest competitor. Data shows SharpLink Gaming holds about 838,730 ETH, placing it far behind BitMine’s 2.66 million tokens. In total, corporate treasuries now control 5.26 million ETH, or roughly 4.34% of supply.
Shares of BitMine were up 3% in premarket trading, coinciding with a weekend rally that lifted Ethereum’s price to $4,110.
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