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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.
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
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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