Bitmine Immersion Technologies holds 1.71 million ETH, becoming the company with the largest Ethereum reserves globally, with total assets of 8.8 billion USD.
Bitmine Immersion Technologies has officially become the business with the largest Ethereum reserves in the world after announcing its massive asset portfolio as of August 25. With strong accumulation over the past two months, the company is reshaping the investment landscape of large cryptocurrency assets.
According to the latest report, Bitmine's portfolio includes 1,713,899 Ethereum, 192 Bitcoin, and 562 million USD in cash, bringing the total asset value to 8.8 billion USD. This figure surged by 2.2 billion USD in just one week, driven by the additional purchase of 190,500 ETH in the most recent accumulation round.
This achievement places Bitmine second on the list of companies with the largest cryptocurrency asset reserves globally, just behind Strategy with its massive Bitcoin portfolio. However, in terms of Ethereum, no competitor can match the company's current holding scale.
Bold ETH accumulation strategy
Chairman Tom Lee asserts that Bitmine is leading the market thanks to the high trading liquidity of its stock compared to other cryptocurrency asset management firms. BMNR shares traded on the NYSE American are currently among the top 20 most actively traded stocks in the U.S. by value, with an average volume of 2.8 billion USD per day.
The company officially launched its Ethereum accumulation strategy on June 30, with a bold goal of owning 5% of the total ETH supply. With approximately 120 million ETH in circulation, this equates to Bitmine needing to accumulate around 6 million ETH – an ambitious target but not impossible given the company's current financial resources.
The latest purchasing round is backed by reputable institutional investors such as Cathie Wood from Ark Invest, Founders Fund, and Pantera Capital. Lee describes Ethereum as 'a major macro transaction' and predicts that Wall Street and artificial intelligence moving to blockchain will create a revolution in the financial sector.
The timing of Bitmine's increased ETH accumulation coincides with positive changes in the U.S. regulatory framework. The GENIUS Act and the SEC's Project Crypto are creating a more favorable environment for businesses to invest in cryptocurrency assets.
