Share this article
BitMine Immersion Boosts Ether Holdings to $8.1B, With $623M in Cash for More Purchases
Led by Tom Lee, the company aims to control 5% of ether's supply, positioning itself as the largest listed ETH treasury firm.
Sep 2, 2025, 12:48 p.m.
Make us preferred on Google
What to know:
- BitMine Immersion Technologies (BMNR) said it acquired an addition 150,000 ETH through last week, bringing its total holdings to nearly 1.87 million tokens.
- The firm's ETH holdings total $8.1 billion at current prices, with $623 million in dry powder for more purchases.
- BMNR is down 35% since mid-August as ETH pulled back from record prices.
BitMine Immersion Technologies (BMMR), the Nasdaq-listed digital asset treasury firm led by Fundstrat's Tom Lee, continued to accumulate tokens as crypto prices fell.
The firm added over 150,000 ETH through last week, according to a Tuesday press release. The purchase brought the company's total holdings to 1,866,974 tokens, worth roughly $8.1 billion at current prices, with around $635 million in cash for further acquisitions, the firm said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
BMNR was slightly down pre-market at $43, and remained 35% lower than its mid-August peak as ETH pulled back from record prices.
BitMine, which pivoted to an ETH strategy in June, aims to corner 5% of the second-largest cryptocurrency's supply and generate yield by staking the tokens. The firm currently ranks as the largest listed ETH treasury firm and only trails the bitcoin-focused Strategy's $71 billion BTC holdings among all crypto treasury firms.
