BitMine accumulates 833.000 ETH and leads among public companies
- BitMine Reaches $2,9 Billion in Ethereum
- Company seeks 5% of the total ETH supply
- Institutional investors strengthen their position in BitMine
BitMine Immersion Technologies has significantly expanded its Ethereum portfolio, reaching 833.000 ETH under custody—currently valued at approximately $2,9 billion. With this, the company became the largest public holder of ether in the market, surpassing competitors such as SharpLink Gaming and The Ether Machine.
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It has been 1-month since BitMine launched ETH Treasury strategy.2 milestones announced today:
– BMNR now owns 833,137 ETH valued at $2.95 billion
– Bill Miller III announced he has taken a major stake in BMNR https://t.co/2w77JQkR8JTicker: $BMNR
— Bitmine BMNR (@BitMNR) August 4, 2025
The company's new position represents an increase of 208.000 ETH compared to its last announcement, made less than two weeks ago, when the treasury reported 625.000 tokens. The move coincides with the announcement of a $1 billion share buyback program and an aggressive strategy of issuing shares and convertible bonds since June.
Investors backing BitMine include Bill Miller III, founder of Miller Value Partners, Cathie Wood's ARK Invest, and the Founder's Fund, linked to Peter Thiel. ARK has acquired approximately $52,3 million in the company's shares since July 29th. Thiel-linked funds now hold a 9,1% stake.
BitMine's plan is ambitious. The company reiterated its goal of securing up to 5% of the entire circulating supply of Ethereum—a strategy CEO Tom Lee has dubbed the "5% alchemy." The company also intends to use part of its ETH balance sheet for yield-generating operations, aiming to directly add value to shareholders.
BitMine's move helps push the total ETH held in public company treasuries beyond $10 billion, solidifying a trend toward institutionalizing Ethereum. This capital markets financing model, also adopted by other companies inspired by Michael Saylor's Bitcoin strategy, is gaining traction in the corporate market.
BitMine's approach combines strategic acquisition, asset issuance, and institutional strengthening to position itself as a leader in the crypto asset niche among listed companies, strengthening Ethereum's presence as a long-term treasury asset.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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