BitMine Immersion Technologies Dominates Ethereum Accumulation with $2.9 Billion Treasury

In a groundbreaking move, BitMine Immersion Technologies (NYSE AMERICAN: BMNR) has amassed the world's largest Ethereum treasury, valued at over $2.9 billion as of August 2025. The company now holds an impressive 833,137 ETH tokens, solidifying its position as a dominant force in the cryptocurrency space. This aggressive accumulation strategy, launched just over a month ago, has propelled BitMine to become the third-largest crypto treasury globally. The rapid growth of BitMine's ETH holdings signals strong institutional confidence in Ethereum's long-term value proposition and its role in the future of decentralized finance. This development comes at a time when institutional adoption of cryptocurrencies is accelerating, with Ethereum emerging as a preferred asset class for corporate treasuries. BitMine's massive accumulation could potentially create significant supply pressure in the market, further driving Ethereum's scarcity and value. Industry analysts are closely watching how this unprecedented accumulation will impact Ethereum's price dynamics and network ecosystem in the coming months.

BitMine Immersion Amasses World's Largest ETH Treasury, Valued at Over $2.9 Billion

BitMine Immersion Technologies (NYSE AMERICAN: BMNR) has solidified its position as the dominant player in ethereum accumulation, with its holdings now exceeding $2.9 billion. The company's treasury boasts 833,137 ETH tokens, marking a rapid ascent since launching its acquisition strategy just over a month ago.

The aggressive accumulation places BitMine as the third-largest crypto treasury globally, trailing only industry giants Microstrategy and Mara Blockchain. Its "alchemy of 5%" strategy aims to capture 5% of ETH's circulating supply—a target of which it has already secured 14%.

High-profile investor Bill Miller III has taken a significant stake in the company, adding credibility to its ambitious vision. With ETH staking poised to activate, BitMine stands at the threshold of substantial profitability.

Ethereum Whales and Institutions Drive $1.2 Billion Accumulation Wave

Ethereum whales and institutional investors have aggressively accumulated over $1.2 billion worth of ETH in July alone, signaling robust bullish sentiment despite recent market volatility. Arkham Intelligence tracked significant over-the-counter (OTC) deals, including a single whale purchasing $300 million in ETH within three days and another acquiring 138,000 ETH valued at $500 million.

The surge in institutional interest coincides with record inflows into U.S. Ethereum ETFs, which saw $727 million in one-day inflows and a cumulative $9.49 billion by August 1. Onchain Lens identified two addresses receiving 43,000 ETH ($153 million), while SharpLink Gaming's treasury now holds 18,860 ETH ($66.6 million) after a 48-hour accumulation spree of 30,755 ETH ($106 million).

Notable transactions include Ether Reserve LLC's acquisition of 10,600 ETH ($40 million) at $3,781 per coin and a newly activated wallet (0x86F911) obtaining 24,294 ETH ($86.5 million) via FalconX. Whale Alert reported another address (0x40e912) receiving 18,675 ETH ($67 million) from Digital Galaxy.

Ethereum Eyes $3,800 as Whales and Institutions Accumulate

Ethereum surged past $3,700 on August 5, fueled by aggressive accumulation from whales and institutional players. The altcoin now faces a critical test at the $3,800 resistance level—a threshold that could determine its near-term trajectory.

New whale wallets absorbed over $3 billion worth of ETH in just 48 hours, with two fresh addresses acquiring 40,000 ETH ($142 million) in a single transaction. This buying spree coincides with Santiment data showing growing holdings among addresses with 10,000+ ETH balances.

Despite maintaining a 148% premium over its yearly low, Ethereum's momentum remains constrained by macroeconomic uncertainty and ETF outflows. The asset previously failed to hold above $3,900 in late July when institutional risk appetite waned.

Ethereum Holds Key Support Amid Record Binance Open Interest

Ethereum's price resilience at $3,667—a 4% rebound in 24 hours—signals renewed institutional interest following recent volatility. Binance's ETH open interest has surged to a historic $8.7 billion, dwarfing 2021 bull market levels by 3.5x despite comparable price points.

Market dynamics suggest cautious optimism: neutral funding rates contrast with escalating leverage, creating conditions for potential upside. The $3,380-$3,874 trading range reflects consolidation after ETH's 46% monthly gain, with a breach above $3,875 likely accelerating momentum.

Vitalik Proposes Multidimensional Ethereum Fee Overhaul Amid Record Low Gas Prices

Ethereum co-founder Vitalik Buterin and researcher Anders Elowsson have unveiled a proposal to streamline transaction fees on the network. The plan introduces a unified multidimensional fee market, replacing the current fragmented system with a single max_fee value applicable across all network resources—computation, storage, and calldata. This dynamic allocation aims to optimize capital efficiency.

The timing is notable. Ethereum's median gas price has lingered below 1 Gwei this week, hitting yearly lows. The proposal seeks to future-proof the network's fee structure, ensuring scalability without compromising economic incentives. "The fee market becomes unified under a single update mechanism," the authors note, emphasizing stability during gas limit adjustments.

Currently, Ethereum relies on separate mechanisms like EIP-1559 for fee management. The overhaul could simplify user experience while maintaining the network's deflationary pressure—a critical feature for ETH's value proposition.

Base Network Experiences First Downtime Since Launch, Disrupting Operations for 29 Minutes

Base, Coinbase's Ethereum layer-2 scaling solution, faced its first operational halt since its 2023 debut, suspending critical functions including block production, deposits, and withdrawals for nearly half an hour. The disruption, attributed to an "unsafe head delay," temporarily crippled the network's block confirmation capabilities.

The team swiftly identified and resolved the issue within minutes, implementing additional monitoring to prevent recurrence. Despite its brevity, the outage marks a notable event for Base, which had maintained flawless uptime until now while accumulating $4.2 billion in total value locked—$1.5 billion of which stems from the Morpho lending protocol.