BitMine Amasses $3 Billion Ethereum Treasury in Bold New Strategy
Key Takeaways:
BitMine has acquired 833,000 ETH ($3.03B) in just 35 days
Aims to control 5% of ETH's circulating supply (~6M ETH)
Strategy led by Fundstrat's Tom Lee, now BitMine Chairman
Company combines mining proceeds + capital raises to fund purchases
BitMine's Aggressive Ethereum Accumulation
Crypto investment firm BitMine has executed one of the most aggressive treasury strategies in digital asset history, accumulating:
💰 833,000 ETH (worth $3.03B)
⏱ From zero to $3B in just 35 days
🎯 Targeting 5% of all circulating ETH (6M coins)
"We've achieved the 'alchemy of 5%' velocity unmatched in crypto treasuries," said Tom Lee, BitMine Chairman and Fundstrat co-founder.
The Strategy Behind the Move
BitMine operates as a Bitcoin/Ethereum network company with a unique model:
1️⃣ Mining Operations
Facilities in Texas (Pecos/Silverton) and Trinidad
BTC mining profits help fund ETH purchases
2️⃣ Capital Raises
Public company status enables stock offerings
Focus on high liquidity shares
"We're separating ourselves by both speed of accumulation and shareholder value creation," Lee noted.
Market Impact & ETH Price Action
The massive accumulation comes as:
📈 ETH price: $3,641 (+4.02% in 24hrs)
🔍 Circulating supply: ~120.7M ETH
🏦 Comparable treasuries: No other entity holds this much ETH
Analysts suggest this could:
✅ Create new ETH demand pressure
✅ Validate institutional accumulation strategies
✅ Potentially reduce liquid supply
What's Next?
All eyes will be on whether BitMine can:
🔹 Hit its 6M ETH target
🔹 Maintain purchase velocity
🔹 Influence ETH's market dynamics
Posted: August 4, 2025 | Source: The Daily Hodl
Why This Matters:
This marks one of the most significant institutional ETH accumulation plays to date, potentially creating a new model for crypto treasury strategies. The sheer scale could have lasting impacts on ETH's market structure.