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BitMine's Ethereum Bet Tops $1B as ETH Strategy Accelerates
BitMine now holds over 300,000 ETH, including options, as part of an aggressive strategy to secure 5% of the token's supply.
Jul 17, 2025, 2:28 p.m.
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What to know:
- Bitmine Immersion Technologies said it has increased its ETH exposure to over $1 billion.
- The firm pivoted to an Ethereum-focused crypto treasury strategy last month, raising $250 million and well-known Wall Street commentator Thomas Lee joining.
- The company aims to acquire and stake 5% of the total ETH supply, valued at over $20 billion at current market prices.
Bitmine Immersion Technologies (BMNR), the ether treasury strategy firm led by Fundstrat's Thomas Lee, has amassed more than $1 billion worth of ETH and linked assets just a week after its private placement round.
The firm said in a press release it now holds the equivalent of 300,657 ETH, including 60,000 tokens through in-the-money options backed by $200 million in cash.
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BMNR was lower by 1.5% in mid-morning U.S. trade, but remains higher by roughly 10-fold since adopting the ETH strategy.
Bitmine is pursuing a strategy of accumulating ETH and participating in the Ethereum ecosystem. BitMine’s leadership said it ultimately seeks to corner 5% of the total ETH supply; That's worth over $20 billion at ETH's current market capitalization.
"We are well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply," chairman Thomas Lee said in a statement.
Read more: Peter Thiel Reveals 9.1% Stake in Tom Lee's ETH-Focused Bitmine Immersion Technologies
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