BitMine Claims 2.7% of Global ETH Supply, Outpacing Crypto Treasury Peers
BitMine Immersion Technologies (NYSE: BMNR) is now making waves in crypto finance with its announcement of 3.24 million Ethereum (ETH) tokens under management, equating to 2.7% of all ETH in circulation. With $13.4 billion in total crypto and cash reserves, BMNR is cementing its status as the world's largest ETH holder, rapidly approaching its goal to own 5% of all Ethereum in existence.
Strategic Accumulation Drives BMNR's Rapid Treasury Growth
BMNR's latest quarterly update highlights aggressive accumulation strategies: the company added 203,826 ETH just in the past week, increasing its dominance among Ethereum treasury holders. The company's digital asset balance sheet, detailed below, shows an impressive blend of major cryptocurrencies, strategic investments, and ample cash:
| Asset | Amount | Estimated Value (USD) |
|---|---|---|
| Ethereum (ETH) | 3,236,014 tokens | $13,006,746,000 |
| Bitcoin (BTC) | 192 tokens | $7,040,640 |
| Unencumbered Cash | – | $219,000,000 |
| Moonshot Investments (e.g., Eightco Holdings) |
– | $119,000,000 |
| Total | – | $13,351,786,640 |
These reserves establish BMNR not only as the preeminent Ethereum treasury, but also the #2 global crypto treasury (after Strategy Inc, known for its massive BTC position).
Institutional Confidence and Trading Liquidity Underpin BMNR's Position
Backed by heavyweight institutional investors—including ARK's Cathie Wood, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital, and Thomas “Tom” Lee—BMNR benefits from both market credibility and a powerful support network. The company’s shares rank #33 in US trading volumes, with average daily turnover of $2.1 billion—exceeding even household names like Eli Lilly and just behind Costco.
BMNR's stock liquidity makes it especially appealing to funds seeking rapid execution in the volatile crypto sector. In fact, BitMine and Strategy Inc together account for a staggering 88% of all global digital asset trading (DAT) volume.
Price Dislocation and the Ethereum “Supercycle” Opportunity
The recent shakeout in crypto markets—driven by one of the biggest deleveraging events on record—sent ETH prices and open interest back to levels last seen in June when ETH traded near $2,500. BMNR leadership sees this price action as a strategic buying opportunity, arguing that with an impending 'Ethereum Supercycle,' current prices offer compelling risk/reward.
Looking Forward: On Track to Reach the 5% ETH Ownership Milestone
Having crossed the halfway point towards acquiring 5% of all ETH, BMNR's next moves will be closely watched by the digital asset and institutional investing communities. If they succeed, they’ll secure an unprecedented foothold in the Ethereum ecosystem, potentially influencing market structure, liquidity, and long-term ETH valuations.
Takeaway: With its commanding position in ETH reserves, robust trading volumes, and heavyweight backers, BMNR offers a unique window into how institutional crypto treasuries are evolving—and could well set the pace for others eyeing major strategic stakes in the digital asset world.
For more on BitMine’s evolving strategy and access to the corporate presentation, visit their Investor Relations page.
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