Share this article
BitMine Immersion's Ether Holdings Top $6.6B, Stock Slides 7% Alongside ETH's Tumble
The Tom Lee-led firm increased its ether stash to 1.5 million tokens last week, up from 1.15 million.
Aug 18, 2025, 2:23 p.m.
Make us preferred on Google
What to know:
- BitMine's ETH holdings surpassed 1.5 million ETH worth more than $6 billion.
- The stock's lower by another 7% as ether continued to quickly pull back from its near record-high last wee.
- Rival ETH treasury company SharpLink (SBET) as well as Solana-focused names Upexi (UPXI), DeFi Development (DFDV) also traded lower.
BitMine Immersion Technologies (BMNR), the listed firm with a digital asset treasury strategy focusing on Ethereum and led by Fundstrat's Tom Lee, said in a Monday SEC filing that its holdings surpassed 1.5 million ether worth roughly $6.6 billion.
With the latest purchases, it has become the second largest public corporate crypto owner, topping miner MARA Holdings (MARA) and trailing only the original treasury play Strategy (MSTR), which owns $72 billion in bitcoin , per Bitcointreasuries.net. Strategy or MARA, of course, are holders of bitcoin, while BMNR is an ETH treasury play.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
BMNR was 7% lower Monday to $54 alongside a continuing pullback in ETH, which fell below $4,300, down 5% over the past 24 hours. It was less than one week ago when ether nearly touched $4,800 and was within a few dollars of a record high.
Other digital asset treasury companies also traded lower, extending their Friday plunge. ETH-focused SharpLink Gaming (SBET) was down 3%, while Solana-centric firms DeFi Development (DFDV) and Upexi (UPXI) were 9% and 6% lower, respectively.
