BitMine Hits $13.4B Crypto Treasury with 2.83M ETH Hoard

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How did BitMine acquire such a massive $13.4B crypto treasury?

What does BitMine's $821M ETH acquisition mean for the crypto market?

Why is BitMine focusing heavily on ETH instead of other cryptocurrencies?

BitMine Hits $13.4B Crypto Treasury with 2.83M ETH Hoard — Image source: Unblock Media

BitMine Immersion Technologies (BMNR) acquired 180,000 ETH for $821 million, raising its Ethereum holdings to 2.83 million ETH.
Ethereum's pivotal role in financial infrastructure and AI drives BitMine’s long-term treasury strategy.

BitMine Immersion Technologies (BMNR), the largest corporate holder of Ethereum, announced its acquisition of an additional 180,000 ETH for $821 million. The purchase increases the company’s total Ethereum holdings to 2.83 million ETH, according to PR Newswire and The Block on October 6, 2025. The combined value of BitMine’s crypto and cash assets now stands at approximately $13.4 billion.

This acquisition aligns with BitMine’s stated goal of controlling up to 5% of Ethereum’s total supply, which currently comprises over 120 million ETH. The company’s chairman, Tom Lee, has emphasized Ethereum’s strategic importance for financial-market infrastructure and artificial intelligence (AI)-related workloads, citing these use cases as pivotal to their treasury strategy.

BitMine’s announcement coincides with a broader surge in the cryptocurrency market. Ethereum’s value has risen over 10% in the past week, while Bitcoin has climbed to a new all-time high. Ethereum’s current price reflects its increased demand among institutional investors and adoption in decentralized applications (DApps).

As of October 6, 2025, 16:12 UTC, Ethereum (ETH) is trading at $4,666.50, with a 2.77% increase in 24-hour trading volume, according to CoinMarketCap.