BitMine Ethereum treasury surged as BitMine Immersion Technologies added roughly 190,500 ETH (about $900 million), bringing its holdings to 1.71 million ETH — nearly $8 billion — and making it the second-largest publicly traded crypto treasury behind Strategy. The move raised BitMine’s crypto NAV per share substantially.
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BitMine added ~190,500 ETH last week, bringing total to 1.71M ETH (≈$8B).
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Ethereum reached an all-time high near $5,000 before a short pullback to mid-$4,600s.
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BitMine’s crypto NAV per share rose ~75% since end of July; mNAV trades near 1.0 (StrategicETHReserve.xyz data).
Meta description: BitMine Ethereum treasury expanded to 1.71M ETH (~$8B) after a $900M buy; learn how this affects mNAV, NAV per share, and investor strategy.
What is BitMine’s Ethereum treasury and why does it matter?
BitMine Ethereum treasury is BitMine Immersion Technologies’ corporate reserve of ETH used to back its public share value and strategic holdings. The treasury now holds 1.71 million ETH after recent purchases, boosting crypto net asset value (NAV) per share and positioning BitMine as a leading institutional Ethereum treasury.
How much ETH did BitMine add last week?
BitMine added approximately 190,500 ETH—valued at nearly $900 million during the recent price surge—bringing total holdings to 1.71 million ETH. The company reported it increased combined cash and crypto holdings by $2.2 billion for the week. Previously, BitMine added over 373,000 ETH in a single week, a $1.7 billion addition.
How does BitMine’s treasury affect its market-to-NAV (mNAV)?
BitMine’s recent purchases have pushed its crypto NAV per share up by about 75% since the end of July. The firm’s mNAV — the market capitalization divided by net asset holdings — currently trades near 1.0, according to StrategicETHReserve.xyz data, allowing potential issuance of shares to fund further ETH acquisitions if it maintains a premium.
Why is mNAV important for treasury companies?
mNAV dictates corporate actions: if mNAV > 1.0, a treasury can issue stock to raise capital; if mNAV < 1.0, it may sell crypto to repurchase shares. This mechanism, popularized by large treasury managers, guides BitMine’s strategy as it scales ETH holdings without diluting shareholder value excessively.
Frequently Asked Questions
How did market prices move during BitMine’s purchases?
Ethereum climbed to an all-time high just under $5,000 over the weekend, then pulled back to roughly $4,615 in early Monday trade, a 4.3% decline over 24 hours in one report. Shares of BitMine (BMNR) were trading near $53.52, up modestly and rising roughly 36% month-to-date.
What do executives say about the strategy?
BitMine Chairman Tom Lee said the firm is pursuing an “alchemy of 5% of ETH” and highlighted continued institutional fundraising and trading liquidity. Lee stated, “We continue to believe Ethereum is one of the biggest macro trades over the next 10–15 years,” citing expectations for blockchain adoption in finance and AI integration on Ethereum.
How to track a public crypto treasury’s ETH accumulation
Follow these concise steps to monitor treasury growth and mNAV movements.
Key Takeaways
- Rapid accumulation: BitMine added ~190,500 ETH last week, raising holdings to 1.71M ETH.
- NAV momentum: Crypto NAV per share rose about 75% since end of July, improving shareholder metrics.
- Strategic posture: With mNAV near 1.0 (StrategicETHReserve.xyz), BitMine can use equity issuance to finance further ETH purchases.
Conclusion
BitMine’s expanded Ethereum treasury—now at 1.71 million ETH after a near-$900 million purchase—illustrates a continued institutional pivot to building crypto treasuries. The move materially improved BitMine’s NAV per share and aligns with a strategy to scale ETH reserves while managing mNAV. Watch NAV metrics, official company statements, and ETH price action for updates.
Published by COINOTAG. Sources referenced in reporting: StrategicETHReserve.xyz, company statement from BitMine Chairman Tom Lee, market price data and public filings. Updated: 2025-08-25.
