BitMine Dominates Crypto: $2.9B ETH Treasury Makes It Ethereum’s Reigning Whale

Move over, nation-states—BitMine just rewrote the rules of crypto treasury management.

The $2.9 billion bombshell

With its ETH war chest now eclipsing $2.9 billion, BitMine isn't just playing the game—it's become the casino. The self-custody purists are sweating, the regulators are recalculating, and Wall Street's still trying to mint its first institutional-grade wallet.

Why this stings traditional finance

While banks pay 0.01% on your savings account, BitMine's stack grows at blockchain speed—no middlemen, no 'qualified investor' gatekeeping. The irony? This treasury's transparency would give most Fortune 500 CFOs nightmares.

The new gold standard?

Ethereum's proving it's more than gas fees and monkey JPEGs. With this move, BitMine's betting the farm on ETH as the bedrock of decentralized finance—and making goldbugs look like dial-up investors.

Final thought: In a world where 'too big to fail' meets 'trustless by design,' maybe Satoshi did invent the ultimate hedge fund after all.

• BitMine holds 833,137 ETH worth $2.9B, targeting 5% of the total ETH supply.
• High-profile backers include Bill Miller III, Cathie Wood, and Founders Fund.
• BMNR stock ranks among the top 50 most traded in the U.S., nearing $1.6B daily volume.

BitMine Immersion Technologies has just reached a record-breaking achievement in the cryptocurrency arena by amassing 833,000+ ETH, becoming the largest Ethereum treasury on Earth.

BitMine began buying ETH on June 30 and concluded its initial strategic funding on July 8. Within 35 days, BitMine increased its ETH holding from zero to $2.9 billion, computed from Bloomberg’s ETH value of $3,491.86 on August 3.

The company’s aggressive game strategy consists of the acquisition of 5% of the entire circulating supply of Ethereum. It stands to gain from staking rewards, which will turn such a massive reserve into a recurring stream of yields.

The company now has the third-largest treasury of cryptocurrencies on the planet, after MicroStrategy and Marathon Digital Holdings.

The board of the company is chaired by Tom Lee, Fundstrat Global Advisors’ managing partner. Lee announced that the initiative has represented a bold vision that has had a high-speed execution.

The focus remains on maintaining net asset value per share at a maximum while maintaining liquidity for investors. He cited BitMine’s ETH-based treasury as setting the company apart from its bitcoin-based counterparts in the space.

Elite Investors Back BitMine’s Ethereum Vision

The company’s ETH accumulation has found endorsement from some of the most notable personalities in finance. Bill Miller III, whose earliest MicroStrategy bet should ring a bell, is one of the largest believers backing BitMine. He clarified that BitMine’s approach mimics Michael Saylor’s Bitcoin treasury strategy but applies it to Ethereum’s ecosystem.

Other notable backers include Cathie Wood of ARK Invest and the Founders Fund, both of which are well-known for placing long bets on disruptive technology. Their endorsement suggests growing institutional confidence in the future of blockchain finance that ethereum plays.

Bill Miller III, senior adviser at Patient Capital Management and Miller Value Partners, pointed to BitMine’s future earnings when ETH staking kicks into full gear. He underlined that disciplined deployment of capital by the team, as well as data-driven decision-making, had a lot to do with investor confidence.

BMNR Becomes a Market Favorite

BitMine stock, which has the ticker BMNR, has gained wide popularity quickly. Having averaged $1.6 billion in the last five days, it stands 42nd of 5,704 US-listed stocks, just behind Uber. Such liquidity and market activity have drawn significant attention on Wall Street.

As BitMine sets about achieving its objective of controlling 5% of the supply of Ethereum, market observers await eagerly. Through its existing trajectory as well as notable support, BitMine has positioned itself as a key player at the cross-section of digital assets and traditional finance.