Important Highlights
- BitMine now holds over 1.17 million ETH, worth $5B+
- Plans to purchase 5% of Ethereum’s total supply
- Big players like Ark Invest are backing the strategy
BitMine Is Making Big Moves in Ethereum Fast
Something massive just happened in the crypto world: BitMine officially became the first company ever to hold over 1 million ETH. That’s not a typo. In just 35 days, the firm went from zero to 1.17 million Ethereum, now worth more than $5 billion.
So, how did this happen so fast? Well, BitMine launched its Ethereum treasury strategy on June 30, and by August 15, it had already racked up a staggering amount of ETH. It added more than 317,000 ETH last week alone, which is roughly $2 billion.
According to BitMine’s chairman, Tom Lee, the goal is simple but bold: own 5% of all Ethereum in circulation. And they’re not wasting any time getting there.
BitMine Leaves Competitors in the Dust
If you’re wondering how this compares to others in the game, BitMine is now way ahead. The previous leader in corporate Ethereum holdings, SharpLink Gaming, held around 728,804 ETH.
They’re still a major player, especially since they’ve staked nearly all their ETH and earned over 1,300 ETH in rewards. But BitMine has pulled far ahead, and fast.
Currently, there are 71 companies focused on the Ethereum Treasury. Together, they hold about 3.7 million ETH, which is equal to about 3.06% of the total supply. And it’s not stopping there; many of these firms plan to pour in another $27 billion, which could push total corporate ETH holdings to 10% of the network.
You can dig deeper into this trend by checking out Strategic ETH Reserve or following real-time data at CoinMarketCap.
BitMine’s $20B Funding Boost Is Fueling the Fire
To keep up this buying spree, BitMine expanded its equity program by $20 billion. That move gave the company serious momentum. Its stock price has soared over 1,100%, and it’s now among the top 25 most traded stocks in the U.S., averaging $2.2 billion in daily volume.
And it’s not just retail traders who are watching.
Back in July, Cathie Wood’s Ark Invest moved $175 million away from big names like Coinbase and Robinhood, and into, you guessed it, BitMine.
That kind of vote of confidence from a top institutional investor speaks volumes about where they think Ethereum is headed.
Ethereum Isn’t Just a Crypto, It’s Becoming Core Infrastructure
What we’re seeing isn’t just about one company buying a ton of crypto. It’s about a bigger shift. Ethereum is becoming real financial infrastructure, and BitMine sees that.
Why? Because staking ETH doesn’t just earn yield, it helps secure the entire network. That means companies like BitMine aren’t just holding an asset; they’re participating in Ethereum’s long-term growth.
It’s a win-win: make money while helping build the future of decentralized finance. And now, with BitMine holding more ETH than any other company, it’s officially the third-largest crypto treasury in the world, behind only Bitcoin-focused giants Strategy and MARA Holdings.
