Bitmine's Ethereum Treasury Surpasses $2 Billion as Holdings Cross 566,000 ETH

Bitmine Immersion has grown its ethereum holdings to more than $2 billion, amassing over 566,000 ETH just weeks after closing a $250 million private placement, underscoring its aggressive treasury strategy.

Ethereum Treasury Crosses $2 Billion Mark for Bitmine

Bitmine Immersion Technologies announced that its ethereum reserves have topped $2 billion, a dramatic increase since the company launched its treasury strategy. As of July 23, Bitmine holds 566,776 ETH at an average value of $3,643.75 per token.

The milestone fuels speculation about Bitmine’s ambition to become one of the largest institutional holders of ethereum.

Bitmine’s approach focuses on maximizing ETH per share by reinvesting cash flows, leveraging market volatility for capital raises, and earning staking rewards, effectively blending a treasury strategy with active participation in Ethereum’s ecosystem.

“We are well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply,” said Tom Lee, Chairman of Bitmine’s Board of Directors.

BitMine’s strategy draws parallels to Strategy’s bitcoin playbook, which redefined corporate treasury management by turning BTC into a reserve asset. While Strategy has accumulated over 607,770 BTC, Bitmine is pioneering a similar approach with ethereum.

With ethereum adoption accelerating and institutional interest rising, Bitmine could become for ETH what Strategy is for BTC, a corporate whale shaping the market narrative.