Quick Takeaways:
- BitMine’s total crypto and cash assets now sit at $10.8 billion
- It holds over 2.15 million ETH, valued close to $9.75 billion
- The company is now the largest Ethereum treasury holder globally
BitMine’s Big Ethereum Bet Is Paying Off
If you’re keeping an eye on the crypto space, then you’ve probably noticed BitMine’s name popping up more often lately, and for good reason.
The company, chaired by market strategist Tom Lee, has officially crossed the $10 billion markin combined crypto and cash holdings. But what really stands out? A massive stash of Ethereum.
In just the last week, BitMine picked up another 82,233 ETH, adding to its already-huge reserves. Now, it holds over 2.15 million ETH, worth close to $9.75 billion.
That’s not just a flex, it’s a clear signal: BitMine is betting big on Ethereum’s future. But it doesn’t stop there.
The company also holds 192 BTC (~$22.1 million), a $214 million stake in treasury firm Eightco, and $569 million in cash that’s free to use. Put it all together, and BitMine’s total assets now sit at $10.8 billion.
BitMine’s Stock Is Surging and So Is Investor Confidence
BitMine’s crypto strategy is bold, but investors seem to love it. Its public stock, BMNR, has been on fire lately. In fact, it’s now the 28th most traded stock in the U.S., with daily trading volumes hitting $2 billion over the last five days.
BMNR shares jumped 15.3% on Friday, closing at $55.09. It’s down slightly in pre-market today, but year-to-date, the stock has climbed more than 570% not bad for a company most people hadn’t heard of a year ago.
Backing this momentum is an impressive list of investors. Cathie Wood’s Ark Invest, Founders Fund, Bill Miller III, Kraken, Galaxy Digital, and Pantera have all thrown their support behind BitMine. Clearly, they believe in the long-term vision, and that vision revolves around Ethereum.
So Why Is BitMine Going All-In on Ethereum?
According to Chairman Tom Lee, we’re entering a new era where Wall Street and AI meet the blockchain. Ethereum, he says, will be at the heart of that transformation.
He describes it as a “supercycle” for ETH, driven by the rise of token economies, decentralized finance, and AI-powered smart agents.
That’s why BitMine isn’t just collecting ETH, it’s on a mission to eventually hold 5% of Ethereum’s total circulating supply.
Right now, that would mean owning around 6 million ETH. It’s an ambitious goal, but BitMine’s pace shows it’s serious about getting there.
Lee also says this kind of long-term position benefits from something called a “power law”, meaning the bigger your stake, the bigger your potential upside as the network grows.
