BitMine Immersion Technologies (NYSE AMERICAN: BMNR), a company traditionally focused on Bitcoin mining, has made significant strides in its pivot towards Ethereum by announcing Ethereum (ETH) holdings exceeding $1 billion as of July 17, 2025.

This milestone was reached just days after closing a $250 million private placement on July 8, which funded the acceleration of their Ethereum treasury strategy.

The Company now holds approximately 300,657 ETH, valued at about $3,461.89 per ETH according to Bloomberg data. This sizable Ethereum position places BitMine among the largest public holders of ETH, aiming to acquire and stake 5% of the total ETH supply to both bolster its treasury and contribute to the Ethereum ecosystem’s growth and security.

Thomas “Tom” Lee, founder of Fundstrat and newly appointed Chairman of BitMine’s Board, emphasized the company’s strategic vision:

“We believe that accumulating a meaningful portion of the Ethereum supply creates a virtuous cycle, enhancing Ethereum’s economic security and fostering increased institutional participation and demand for ETH.”