Former crypto mining company BitMine Immersion now holds more Ethereum than any other publicly-traded company. BitMine Immersion Technologies, Inc. (NYSE American: BMNR), one of the largest institutional crypto holders, has announced that its total crypto and cash holdings now amount to $13.4 billion, a growth largely due to the company’s aggressive accumulation of Ethereum (ETH). The company now holds 3.24 million ETH, representing about 2.7% of the total supply, making the firm the largest corporate Ethereum treasury worldwide. BitMine’s portfolio includes 3,236,014 ETH valued at $4,022 each, 192 Bitcoin (BTC), a $119 million stake in Eightco Holdings (Nasdaq: ORBS), and $219 million in unencumbered cash. The company’s Chairman, Thomas “Tom” Lee of Fundstrat, described the recent accumulation of 203,826 ETH (roughly $800 million at today’s prices) as a strategic response to a “major market deleveraging” that temporarily pressured ETH prices. He also reaffirmed the company’s long-term target of holding roughly 5% of Ethereum’s supply, a goal that underscores a profound conviction in Ethereum’s long-term value proposition. Institutional focus on Ethereum BitMine’s growing Ethereum exposure indicates a growing trend of fund reallocation among institutional players to ETH-based assets. Rather than viewing Ethereum solely as a volatile trading instrument, institutions now increasingly regard it as both infrastructure and a strategic reserve comparable to capital held in traditional assets. Companies with Significant Ethereum Treasury Holdings RankCompany (Ticker)Approx. ETH HoldingsAllocation Strategy1BitMine Immersion (NYSE BMNR)3.24 million ETHAggressive accumulation targeting ~5% supply2SharpLink Gaming, Inc. (Nasdaq: SBET)838,728 ETHFormer gaming-focused company pivots toward ETH treasury3Bit Digital, Inc. (Nasdaq: BTBT)150,244 ETHStrategic infrastructure shift toward ETH staking and treasury holdings4ETHZilla, Inc. (Nasdaq: ETHZ)102,246 ETHCorporate rebranding to function as a dedicated ETH accumulation vehicle5Coinbase Global, Inc. (Nasdaq: COIN)136,782 ETHExchange holding ETH for both operations & investmentSource: CoinGecko Expanding real-world utility reinforces institutional confidence This trend is further validated by the diverse and growing real-world utility of the Ethereum network, which extends far beyond simple treasury holdings. Institutions are actively deploying Ethereum for: Asset tokenization: Major asset managers are issuing tokenized funds and securities on Ethereum layer-2 networks. For instance, FG Nexus (Nasdaq: FGNX) has partnered with Securitize for this purpose. Cross-border settlement: JPMorgan Chase & Co. (NYSE: JPM) has publicly used Ethereum-style smart-contract networks to automate real-time settlement and improve cross-border payments processes. Stablecoin infrastructure: Circle Internet Group (NYSE: CRCL) issues the USD-pegged stablecoin USDC, deployed across Ethereum rails, facilitating payments, commerce, and settlement functions for institutional clients. Digital securities issuance: banks and capital market firms use Ethereum rails to issue tokenized bonds, deposits, and fund products. Together, these developments are reinforcing market confidence in Ethereum’s institutional role by demonstrating a clear path to revenue and utility beyond price speculation. BitMine’s expanding Ethereum treasury appears to resonate with markets. The company now records approximately $2.1 billion in daily trading volume across a five-day average, positioning it as the 33rd most actively traded U.S.-listed equity.
BitMine Adds Another 203,826 ETH to Stockpile During Market Dip
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