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BitMine Becomes the Largest Ethereum Holder Globally With Over 2.65 Million ETH on Balance Sheet

BitMine Becomes the Largest Ethereum Holder Globally With Over 2.65 Million ETH on Balance Sheet

CryptonewslandCryptonewsland2025/09/30 12:03
By:by Austin Mwendia
  • BitMine holds over 2.65 million Ethereum, making it the largest ETH treasury in the world.
  • The company added nearly $1 billion in ETH, pushing its total crypto and cash holdings to $11.6 billion.
  • BitMine ranks second in global crypto treasuries behind Strategy Inc., which owns about 640,000 Bitcoin.

BitMine Immersion Technologies Inc. saw its stock climb over 5% Monday. The company revealed it holds more than 2.65 million Ethereum (ETH), solidifying its place as the world’s largest ETH treasury. With ETH trading around $4,141, BitMine’s Ethereum assets are valued at approximately $11 billion.

Tom Lee's $BMNR , the world’s largest $ETH treasury company, is the 21st most traded stock across all U.S. markets today 🔥

Surpassing Strategy, Coinbase, Boeing, and JP Morgan in daily share volume

Ethereum continues to take over Wall Street 👀 pic.twitter.com/tZ5nEF1elP

— Crypto-Gucci.eth ᵍᵐ🦇🔊 (@CryptoGucci) September 29, 2025

The company also reported total crypto and cash holdings of $11.6 billion. This includes 192 Bitcoin valued at about $21.6 million, $436 million in cash, and $157 million in equity investments. These investments include positions in speculative assets such as Eightco Holdings.

BitMine controls more than 2% of all circulating ETH. This level of accumulation marks a shift in market dynamics, as a significant portion of Ethereum is now off the open market.

Position in Global Crypto Treasury Rankings

With its recent Ethereum acquisition, BitMine ranks as the second-largest overall crypto treasury in the world. Strategy Inc. (NASDAQ: MSTR), which holds roughly 640,000 Bitcoin, remains in first place. Earlier this year, Strategy Inc. raised $722M by expanding the Strife stock sale to fund Bitcoin purchases. 

However, BitMine has created a significant gap in Ethereum holdings compared to other public companies. Recently, Tom Lee’s Bitmine Immersion bought over $1 billion in ETH in 48 hours. This move added $953.1 million in ETH.

SharpLink Gaming remains the closest Ethereum competitor, with holdings of nearly $3.37 billion. BitMine’s recent purchase of 234,846 ETH, valued at around $980 million, increased its lead.

The company’s stock traded around $53, up more than 6% intraday, but remains down 4% over the last week.

Market Momentum and Technical Setup

BMNR’s trading volume has averaged $2.6 billion per day, making it the 26th most traded U.S. stock. That places it ahead of companies like Visa (NYSE: V). The stock is currently trading within a symmetrical triangle pattern.

It holds support above the 20-day EMA of $51.85 and the 50-day EMA of $47.06. A move above $56 could push the price toward $65 or even $70. However, a drop below $52 may test lower levels around $47 or $38.

The RSI near 55 indicates neutral momentum. This leaves room for movement in either direction as the pattern nears its apex.

Institutional Support and Strategic Outlook

BitMine’s growth has drawn support from major institutions. These include ARK Invest, Founders Fund, Galaxy Digital, Pantera Capital, and Bill Miller III. The company is also backed by Fundstrat’s Thomas Lee, who chairs the firm.

BitMine views Ethereum as a core strategic asset. It connects its value to the ongoing convergence of artificial intelligence and blockchain infrastructure. The company plans to hold 5% of Ethereum’s total supply eventually.

Market odds now suggest an 81% chance that BitMine will reach 3 million ETH by late October.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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