BitMine Dominates Ethereum Treasuries With Massive $9.2B Crypto Portfolio

BitMine just rewrote the corporate treasury playbook—with Ethereum leading the charge.

The $9.2B Crypto Power Move

Forget bonds and gold reserves. BitMine's treasury now holds a staggering $9.2 billion in crypto assets—primarily Ethereum—making it the largest known corporate holder in the ecosystem. That’s not just a bet on digital assets; it’s a full-scale endorsement of decentralized finance’s staying power.

Why Ethereum—And Why Now?

Ethereum’s shift to proof-of-stake and growing institutional adoption made it the obvious choice for serious treasury allocation. Unlike traditional finance’s slow-moving giants, BitMine isn’t waiting for regulatory perfection—it’s building value on-chain, today.

Treasury Strategy or Ultra-Bullish Gambit?

Some call it visionary. Skeptics whisper it’s corporate speculation dressed up as innovation—another case of ‘when you’re holding a crypto hammer, everything looks like a nail.’ Either way, it forces every CFO to ask: is our balance sheet stuck in the past?

Love it or hate it—BitMine isn’t asking for permission. They’re leading.

In brief

• BitMine Immersion announces holding more than 9.2 billion dollars in assets and cash, consolidating its position among the largest crypto treasuries worldwide.
• The company, led by Tom Lee, massively strengthens its exposure to Ethereum with over 2 million ETH now in reserve.
• More than 319,000 ETH were acquired in one week, as part of a strategy aiming to control 5% of the total Ethereum supply.
• Tom Lee defends a long-term vision where Ethereum would become the cornerstone of digital finance in the era of artificial intelligence.

BitMine crosses the two million ETH milestone

BitMine Immersion now claims more than 9.2 billion dollars in cryptos and cash, including 2.069 million ETH, thus confirming its status as the world’s largest corporate ethereum treasury.

According to the company, these assets place BitMine just behind Strategy in terms of overall crypto holdings. “We continue to believe that Ethereum is one of the biggest macroeconomic bets of the next 10 to 15 years,” said Tom Lee, company chairman, putting this intensive Ether strengthening strategy into perspective.

BitMine’s rise is based on a series of targeted operations carried out throughout August. Here are the key facts :

• BitMine now holds 2.069 million ETH, up from 1.75 million the previous week ;

• The company acquired more than 319,000 ETH in a few days, for an estimated value of 1.4 billion dollars ;

• In August, it invested 65 million dollars in buying 14,665 ETH ;

• The current value of the ETH treasury exceeds 8.9 billion dollars, according to available data ;

• The stated objective is clear : to control 5% of the total ETH supply, about 6.3 million units, as part of the plan named “alchemy of 5 %”.

This strategic positioning fits into a context of growing interest from listed companies in these assets, notably through spot ETH ETFs.

At the market level, public companies now hold 2.78 million ETH, about 2.3 % of the circulating supply, with a total valuation close to 12 billion dollars.

Diversification and regulatory challenges

Beyond its Ether-focused strategy, BitMine deploys a global investment logic, as demonstrated by its recent commitment of 20 million dollars in Eightco Holdings (OCTO).

This support is part of a PIPE (Private Investment in Public Equity) of 270 million dollars, aimed at enabling Eightco to integrate Worldcoin (WLD) as the main asset of its treasury. BitMine justifies this operation by a desire to invest in projects “relevant for the future of the Ethereum ecosystem”, referring to Worldcoin’s use of zero-knowledge proofs to validate users’ humanity, a theme considered crucial in the era of generative AI.

This equity stake launches the internal program “Moonshot”, through which the company plans to allocate about 1 % of its balance sheet to initiatives likely to create long-term value while strengthening the Ethereum ecosystem.

This expansive strategy calls regulators’ attention. Nasdaq has recently strengthened its surveillance over listed companies raising funds primarily to buy cryptos. While institutional interest in ETH treasuries intensifies, requirements for financial transparency and regulatory compliance could also tighten.

In this context, Tom Lee emphasizes Ethereum’s central role in the reshaping of finance : “Wall Street and artificial intelligence will converge on the blockchain, leading to a profound transformation of the financial system. And the essence of this transition will take place on Ethereum.”

In the short term, BitMine thus consolidates its positions as a massive ETH holder but also as a strategic investor in web3 projects related to identity, decentralization, and AI infrastructure. In the longer term, this stance could influence how listed companies perceive balance sheet management in an increasingly digitized and tokenized world.

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