BitMine Immersion’s Ethereum Holdings Top $10 Billion, May Signal Rising Institutional Demand

• BitMine holds 2.42M ETH (~2% of supply)

• Company balance sheet lists $11.4B including 192 BTC, $345M cash and $175M stake in Eightco

• Shares (BMNR) dropped ~10% intraday after ETH purchase announcement and a new $365.2M share sale

BitMine ETH holdings exceed $10B and 2% of supply — learn implications and next steps; read the latest COINOTAG report now.

What are BitMine Immersion’s ETH holdings after the latest buy?

BitMine Immersion’s ETH holdings stand at 2.42 million ETH following its largest September purchase, equivalent to just over $10 billion and about 2% of the circulating supply. This positions BitMine as the publicly traded firm with the largest Ethereum treasury and the second-largest crypto treasury overall.

How is BitMine’s balance sheet composed after the ETH purchase?

BitMine reports a total balance sheet of $11.4 billion. Key line items include 2.42M ETH, 192 Bitcoin valued at $21.6 million, unencumbered cash of $345 million, and a $175 million stake in a crypto treasury named Eightco. The company also announced a $365.2 million share sale to an institutional investor.

Why does BitMine’s ETH accumulation matter?

BitMine’s accumulation concentrates a significant portion of ETH within a publicly traded firm’s treasury, signaling institutional allocation trends. Chairman Tom Lee described the plan as moving toward an “Alchemy of 5%” of ETH supply, framing the purchases as a long-term macro trade over the next 10–15 years.

How did markets react to the announcement?

Shares of BitMine (BMNR) fell nearly 10% intraday to $55.30 following the ETH purchase news and the planned $365.2M share sale. Over the last month BMNR remains modestly higher, up more than 3% per public market data providers such as Yahoo Finance (referenced as plain text).

Summary table: BitMine reported holdings

Frequently Asked Questions

How much of the ETH supply does BitMine own?

BitMine’s 2.42 million ETH equals roughly 2% of the circulating Ethereum supply after its latest buy, according to the company’s announcement.

Is BitMine the largest public holder of ETH?

Yes. BitMine now reports the largest Ethereum treasury among publicly traded firms and the second-largest crypto treasury overall behind a major BTC holder referenced in public market reports.

Key Takeaways

• Concentration: BitMine holds ~2% of ETH supply with 2.42M ETH, signaling growing institutional ETH accumulation.
• Balance-sheet strength: The company reports $11.4B in assets including BTC, cash and a strategic stake, providing liquidity for further buys.
• Market impact: The ETH purchase and share sale announcement triggered a near-10% intraday drop in BMNR shares; investors should monitor liquidity and issuance activity.

Conclusion

BitMine Immersion’s latest buy pushes its Ethereum treasury past $10 billion and to roughly 2% of the circulating ETH supply, positioning the firm as a major institutional holder. With $11.4B on the balance sheet and ongoing capital raises, BitMine’s strategy remains focused on scaling ETH exposure—watch for further filings and market updates.