BitMine has become the first company to hold a treasury exceeding 1 million Ethereum (ETH), reaching 1.297 million ETH (worth around $5.57 billion) on August 16, just over a month after launching its treasury strategy on June 30. Within a single week, the company added 452,000 ETH (~$2.6 billion).

Currently, BitMine leads Ethereum treasury holdings, surpassing SharpLink Gaming (728,804 ETH). In total, 71 ETH-focused funds now hold 3.7 million ETH ($16.3 billion), accounting for 3.06% of total supply, with plans to deploy an additional $27 billion that could push corporate holdings to 10% of supply.

BitMine has also filed to expand its stock issuance program by $20 billion to fund further ETH purchases, fueling a more than 1,100% surge in its share price, with average daily trading volume hitting $2.2 billion — ranking 25th among all U.S.-listed stocks.

This aggressive strategy reflects growing institutional recognition of Ethereum as foundational infrastructure for future financial systems. Many companies, including Ark Invest, have shifted capital into BitMine, reinforcing its status as the world’s third-largest crypto treasury, trailing only Bitcoin-focused funds like Strategy and MARA Holdings.