๐ July 14, 2025 | Toronto, Canada
A single announcement, and the action of a cryptocurrency mining company that many died exploded like a rocket. Today, Bitmine Immersion, one of the most discrete Bitcoin and Ethereum miners in North America, revealed that it has a secret treasury of 500 million dollars in ETH, unleashing a rally that made its action jump more than 40% in a matter of hours. In a bearish market for many crypts and miners beaten by energy costs and regulation, this news fell like a bombing: how many other companies are sitting on Crypto fortunes without counting it? The market wonders if this is only the beginning of a new corporate fever for accumulating Ether as a strategic reserve.
Bitmine Immersion had been in the shadow for months. Registered in Toronto and with operations in Alberta and Texas, its business was based on Bitcoin mining with immersion refrigeration - a technology that allows to maintain more machines working with less energy expenditure. So far, nothing extraordinary. The company had debt problems, irregular billing and an action that barely moved above 3 Canadian dollars.
Everything changed this July 14. In a statement sent to the Toronto and Coendesk Stock Exchange, Bitmine Immersion unveiled something that neither analysts nor competitors expected: they have more than 120,000 ETH in their balance, acquired during the price drop of 2022 and 2023. Market value: about 500 million dollars, which until today were โstrategic digital assetsโ in their financial reports, without detailing amount nor Specific blockchain.
The CEO, Mark Dempsey, explained that the decision to buy ETH instead of liquidating it to cover operating costs was "risky but visionary." According to him, the company now plans to expand its infrastructure towards Staking Validation and Web3 Services, diversifying its model beyond the simple Proof-Oork mining.
The bags immediately reacted: in the first hour after the announcement, the action rose 40%, reaching maximums not seen since 2021. The Reddit and Twitter/X forums were flooded with theories. Some retail traders celebrated that Bitmine's play could force other public mining companies to transparent their cryptoactive balances. Others speculated that they could sell part of that mountain of ETH to amortize debts or finance new expansion.
Meanwhile, analysts warn that a massive sale of ETH by miners such as Bitmine could add volatility to a market that already flirts with the $ 3,600 per Ether. However, the company ensures that its objective is to use these funds to strengthen its validated network and position itself as a key actor in the Ethereum 2.0 ecosystem.
This move also revives the regulatory debate: Should public mining companies be obliged to detail the penny of their crypto holdings? Some legislators in the US and Canada already press to demand lighter reports and more rigorous audits.
For now, Bitmine Immersion enjoys the moment. What began as a silent play of accumulation could become the case of study of how an almost forgotten mining company resurrects thanks to an Ethereum treasury hidden in full view.
Topic Opinion:
I see this play as a brutal lesson for all who underestimate the silent strategy of many mining companies. While some sell everything to survive crypto winter, others accumulate in the shadows and expect the perfect time to release the pump. Bitmine Immersion understood that in the crypto game, who keeps and endures can multiply its value overnight. For retail investors, the moral is clear: not everything is in the daily graph. Sometimes, the biggest hides in the printing small of the balances. Study, questions and do not assume that everything is said. Ethereum is demonstrating that it is still a strategic asset, even for actors who were born as Bitcoin miners.
๐ฌ Is it surprised that a mining company will bet more through ETH than for BTC? Do you think we will see more companies to reveal hidden crypto fortunes?
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