BitMine added 373,000 ETH worth $1.7B, raising total holdings to $6.6B or 1% of supply.
The company plans a $20B stock offering to expand its Ethereum accumulation strategy further.
Ethereum ETFs recorded $1B in daily inflows, with treasuries and funds now holding over 8% of supply
BitMine Immersion Technologies has significantly expanded its Ethereum holdings, securing a position as the second-largest cryptocurrency treasury. The company added more than 373,000 ETH worth $1.7 billion last week, raising its total Ethereum reserves to $6.6 billion. Confirmed by Arkham, this figure represents over 1.26% of Ethereum’s circulating supply, according to data provided by treasury tracking firms.
https://twitter.com/arkham/status/1957513282430071155 Institutional Strategy and Treasury Growth
BitMine Chairman and Fundstrat CIO Tom Lee confirmed that institutional investors supported the rapid accumulation as noted in a press release. Lee stated that the company increased its Ethereum position through “lightning speed purchases” made during the last two months. These transactions helped propel BitMine’s treasury growth, following the inauguration of its accumulation strategy.
The company has also announced plans to upsize a stock offering by $20 billion to further increase its holdings. Lee described Ethereum as “one of the biggest macro trades over the next 10–15 years,” citing supportive legislative and regulatory developments. In an X post, Lee referenced the recent GENIUS Act and the SEC’s Project Crypto as critical factors shaping the strategy.
https://twitter.com/fundstrat/status/1957451121603010996
He compared their potential impact on financial services in 2025 to the U.S. decision in 1971 to end the Bretton Woods system. That decision removed the U.S. dollar from the gold standard and set the stage for significant changes across Wall Street and global financial markets.
Ethereum ETFs Reach Record Inflows
The surge in Ethereum treasury activity coincides with record-breaking inflows into Ethereum exchange-traded funds. Last week, ETH ETFs attracted more than $1 billion in daily investments, marking their strongest inflow since launch. Combined with purchases by treasuries such as BitMine and SharpLink Gaming, these entities now control over 8% of Ethereum’s total supply.
Shares of BitMine’s BMNR fell 2.4% in the last 24 hours, while Ethereum dropped 5.1% during the same period. However, both assets remain positive on the monthly chart. BMNR has gained 31% this month, while Ethereum has advanced 21.5%.
BitMine’s rapid expansion into Ethereum marks a pivotal moment in corporate treasury strategy, reflecting both institutional activity and strong ETF participation. The scale of recent inflows underlines Ethereum’s role as a key digital asset for companies and investors.
