BitMine Immersion Technologies, a publicly traded Bitcoin mining company and Ether treasury, said it holds almost 1.9 million ETH — well over 1.5% of all circulating Ether.
According to a Tuesday announcement, BitMine holds 1,866,974 Ether (ETH) or nearly 1.55% of the entire ETH supply, 192 Bitcoin (BTC) and unencumbered cash of $635 million. This results in a combined total capital of $8.98 billion.
According to Strategic ETH Reserve data, Bitmine is currently the world’s largest corporate Ether treasury, with its ETH holdings valued at over $8.1 billion. The second-largest treasury is SharpLink Gaming, with 797,700 ETH, worth approximately $3.43 billion.
BitMine Immersion Technologies Ether holdings chart. Source: Strategic ETH Reserve
The market has seemingly responded well to the announcement, with the stock trading at $44.13 at the time of writing, after a 1.12% increase on the trading day, according to Google Finance data. The stock is also up nearly 41% over the last month, from its Aug. 4 price of $31.13.
BitMine Immersion Technologies’ stock price chart. Source: Google Finance
Related: Who owns the most Ether in 2025? The ETH rich list, revealed
BitMine is on a buying spree
The news follows a period of high activity for BitMine. Last month, Cathie Wood’s ARK Invest purchased an additional $15.6 million of shares in Bitmine Immersion Technologies, bringing its total investment in the company to more than $300 million.
This follows Fundstrat Global Advisors managing partner and BitMine chairman Tom Lee saying that Ether’s price was about to bottom out on Aug. 26. Still, Ether is about 2.5% down from the price reported on Aug. 26.
Ethereum seven-day chart. Source: CoinMarketCap
Lee’s remarks followed BitMine’s addition of 373,000 Ether to its treasury in a single week earlier in August, as its shares dropped 14.2% over the same period.
Related: Ether treasuries climb to $13B as price breaks $4,300
Ether treasuries are on the rise
Ether treasuries have been gaining significant traction lately. According to reports released on Tuesday, Yunfeng Financial Group, a Hong Kong-listed company with ties to Alibaba founder Jack Ma, acquired 10,000 ETH worth approximately $44 million.
Today’s reports also reveal that crypto company The Ether Machine secured $654 million in a private financing round, collecting 150,000 Ether from prominent Ethereum advocate Jeffrey Berns.
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