Yeliz Akmaca 
BitMine Immersion Technologies (BMNR) has strengthened its position as the largest institutional Ethereum holder by adding 23,823 ETH worth $103.7 million to its corporate ETH treasury. The company also announced last week that it had purchased a total of 179,251 Ethereum (ETH).
BitMine’s ETH Investment and Treasury
According to Arkham data, BitMine received the ETH via the “0xF8c … 338E7” address through a BitGo wallet. Lookonchain analysis confirmed that this wallet belongs to BitMine. Officially, the company holds approximately 2.83 million ETH, valued at around $12.4 billion.
BitMine aims to accumulate 5% of Ethereum’s total supply. This strategy reflects the company’s vision to use Ethereum more efficiently in financial markets and provide liquidity.
Market Reaction and ETH Prices
Following BMNR’s move, BMNR shares fell 1.5% to $59.10. Meanwhile, Ethereum dropped 1.4% over the past 24 hours to $4,384. This highlights both investor interest in ETH and short-term volatility in the crypto market.
BMNR Treasury: 2.83 million ETH (~$12.4B)
Latest Purchase: 23,823 ETH (~$103.7M)
Goal: 5% of total Ethereum supply
Institutional ETH Holdings and Strategic Importance
Led by Fundstrat co-founder Tom Lee, BitMine competes with Michael Saylor’s Strategy company in institutional ETH ownership. This underscores the influence and liquidity potential of corporate investors in the crypto ecosystem.
Ethereum’s growing role in financial services supports BitMine’s strategic acquisitions. Alongside altcoin trends and rising crypto assets, the company’s portfolio strategy could also influence ETH prices in the long term.
Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.