BitMine has dramatically increased its commitment to Ethereum, strategically expanding its holdings amidst recent market movements and solidifying its position as a dominant force in the digital asset landscape. This aggressive strategy reflects a deep-seated conviction in Ethereum's long-term potential, particularly at the intersection of blockchain and artificial intelligence.
Bolstering the Ethereum Treasury
Capitalizing on ETH's dip below $4,000, BitMine recently acquired over 200,000 Ethereum, bringing its total treasury to a substantial 2.6 million ETH. This immense holding is now valued at $10.9 billion, representing more than 2% of Ethereum's total circulating supply. Chairman Thomas Lee articulates this expansion as a strategic long-term play, viewing Ethereum as a pivotal "macro trade" for the next 10-15 years. He asserts that the convergence of Wall Street and AI on blockchain technology, predominantly on Ethereum, will fundamentally transform the financial system, making these acquisitions a "discount to the future."
Market Influence and Financial Strength
Beyond its impressive Ethereum stash, BitMine commands an overall treasury valued at $11.6 billion, including 192 Bitcoin worth $21.5 million, a $157 million position in "moonshot" investments via Eightco Holdings, and $436 million in cash. This formidable asset base positions BitMine as the largest single Ethereum treasury and the world's second-largest crypto treasury, trailing only Strategy (formerly MicroStrategy). The company's robust digital asset strategy has translated into significant recognition in the traditional stock market. BitMine is now a highly active US equity, ranking 26th among all US-listed stocks with an average daily trading volume of $2.6 billion—outpacing even payment giant Visa. Furthermore, BitMine's shares, alongside Strategy, account for an overwhelming 84% of trading activity among the top 30 digital asset treasury companies, with BitMine alone representing 34% of that impressive figure, underscoring its leading role in both crypto asset accumulation and market liquidity.
