BitMine Adds $113 Million in Ethereum to Corporate Treasury, Onchain Data Shows
The firm is now the largest corporate holder of Ethereum and the second-largest crypto treasury after Michael Saylor’s Strategy.
Crypto Journalist Amin Ayan
10/29/20251 min read
BitMine Immersion Technologies has reportedly added 27,316 ETH, worth roughly $113 million, to its corporate treasury this week, according to blockchain data shared by Lookonchain via Arkham Intelligence.
Key Takeaways:
BitMine added 27,316 ETH worth $113 million, boosting its total Ethereum holdings to over 3.3 million ETH ($13.2B).
The firm is now the largest corporate holder of Ethereum and the second-largest crypto treasury after Michael Saylor’s Strategy.
CEO Tom Lee sees Ethereum as a “neutral chain” poised for institutional adoption, while cautioning that Bitcoin remains vulnerable to major market swings.
The transfer allegedly came from custody platform BitGo, though the company has yet to confirm the transaction.
BitMine Becomes Largest Corporate Holder of Ethereum With $13.2B Treasury
Earlier this week, BitMine announced its total Ethereum holdings surpassed 3.3 million ETH, valued at around $13.2 billion.
This solidifies BitMine’s position as the largest Ethereum-holding corporation and the second-largest crypto treasury overall, behind Michael Saylor’s Strategy.
Led by Fundstrat co-founder Tom Lee, BitMine has outlined an ambitious goal of accumulating 5% of Ethereum’s total supply, positioning itself as a long-term backer of the blockchain’s expanding financial ecosystem.
The firm counts heavyweight institutional supporters such as Ark Invest’s Cathie Wood, Bill Miller III, Digital Currency Group, Founders Fund, Galaxy Digital, Kraken, and Pantera Capital.