BitMine Emerges as Top Ethereum Treasury Holder
BitMine Immersion (BMNR) has moved the needle on institutional crypto ownership. As of October 19, the company’s Ethereum (ETH) stash reached an eye-popping 3,236,014 tokens, worth just over $13 billion—including a strategic position in Eightco Holdings (NASDAQ: ORBS) and unencumbered cash of $219 million. This sum pushes BitMine's combined crypto and cash reserves to a headline-grabbing $13.4 billion.
3.24 Million ETH—Securing 2.7% of the Entire Token Supply
After adding over 203,000 ETH last week, BitMine now owns 2.7% of the circulating Ethereum supply, positioning itself more than halfway towards its goal of controlling 5%. In practical terms, BitMine has established itself as the largest ETH treasury on record and ranks as the world’s second-largest public crypto holder—behind only Strategy Inc. (MSTR) and its 640,250 BTC position.
| Asset | Quantity | Valuation (USD) |
|---|---|---|
| Ethereum (ETH) | 3,236,014 | $13,010,272,600 |
| Bitcoin (BTC) | 192 | Approx. $6,720,000* |
| Eightco Holdings (ORBS) "Moonshots" | -- | $119,000,000 |
| Unencumbered Cash | -- | $219,000,000 |
| Total | — | $13,354,992,600 |
*Estimated BTC value at $35,000/BTC.
Trading Volume and Institutional Endorsements Bolster Market Presence
BitMine isn’t just stockpiling tokens. With $2.1 billion in average daily trading volume over the past week, BMNR has become the 33rd most-traded stock in the US, just trailing giants like Costco. This deep liquidity continues to attract heavyweight institutional investors—including ARK’s Cathie Wood, Pantera, Founders Fund, and others—who support the firm’s long-term crypto strategy and growing market clout.
Strategic Moves Amid Crypto Market Volatility
The timing of BitMine’s aggressive ETH accumulation comes just as the crypto market weathered one of its largest deleveraging events, temporarily sending ETH prices lower and creating a potential buying opportunity for deep-pocketed buyers. According to Fundstrat’s Tom Lee, open interest in ETH options has reset to late-June levels—despite ETH trading much higher now. This, paired with anticipated positive cycles (“Supercycle”), suggests BitMine may be positioning for a significant rebound in Ethereum's value.
Competitive Edge: Liquidity, Speed, and Peer Comparison
BitMine’s treasury strategy isn’t only about size—it’s also about velocity and liquidity. The company claims the fastest net asset value (NAV) per share growth among its crypto treasury peers and consistently maintains one of the highest trading volumes in the digital asset sector. Combined, BitMine and MSTR account for nearly 88% of global daily asset token (DAT) trading, further solidifying BitMine’s presence among publicly listed crypto companies.
Key Takeaways: Eyes on the 5% Threshold
BitMine’s relentless drive toward securing 5% of all Ethereum, coupled with a well-funded balance sheet and deep market liquidity, places the company at the center of institutional crypto investment. With market-leading trading activity, ongoing institutional support, and strategic “moonshot” positions like ORBS, BitMine remains a central player to watch as it navigates volatility and eyes the next major ETH acquisition milestone.
Curious to see more? BitMine regularly updates its presentation and Chairman’s commentary at bitminetech.io/investor-relations.
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