Tom Lee’s BitMine surpasses $8 billion in treasury after latest ETH purchase

Ethereum treasury firm BitMine Immersion Technologies (BMNR) said its crypto and cash holdings have climbed to $8.82 billion, headlined by 1,713,899 ether valued at roughly $7.9 billion, making it the world’s largest corporate ether holder.

BitMine launched its ether-denominated treasury program in late June and has accelerated purchases in recent weeks, positioning itself as a bellwether for corporate ETH accumulation. On Monday, management reiterated a long-term objective to acquire as much as 5% of ETH’s total supply.

The firm said last week’s purchases took its ether balance up by more than 190,500 tokens from 1.52 million, pushing reported crypto plus cash up by $2.2 billion from $6.6 billion a week earlier. Additionally, its portfolio as of Aug. 24 also included 192 bitcoin and $562 million in unencumbered cash. The firm's assets have also nearly reached its market capitalization of approximately $9.2 billion.

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Corporate ether treasuries have expanded broadly this summer alongside rising institutional interest and spot ETH inflows. ETHZilla, a Peter Thiel-backed Ethereum treasury fund, also increased its holdings to 102,237 ETH and disclosed up to $215 in outstanding cash or cash equivalents.

Another publicly listed ETH buyer, SharpLink Gaming, spent $667 million to expand its stockpile. Public company ETH treasuries now total more than $12 billion and hold over 2% of ether’s roughly 120.7 million-coin supply, The Block’s data dashboard shows.

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BitMine calls itself the No. 2 digital-asset treasury globally behind Strategy (MSTR), which now holds about 632,457 BTC after fresh acquisitions. The company also described its stock as one of the most liquid U.S. listings, averaging $2.8 billion in daily trading value, according to the release.

BMNR shares were little changed during pre-market hours, while ETH slipped over 2% to change hands at $4,640, The Block’s price page shows.