BitMine Nears 4 Million ETH Holdings Amid $320M Acquisition

BitMine Immersion, the largest corporate treasury holder of Ethereum, increased its holdings to 3.97 million ETH after a $320 million purchase. This move aligns with their strategy of accumulating Ethereum during market consolidations.

Key Points:

BitMine's total crypto and cash holdings stand at approximately $13.3 billion, with Ethereum as the dominant asset.
The company aims for long-term holding as an inflation hedge, not for trading purposes.
Chairman Thomas Lee highlights stable market conditions, reduced volatility, and regulatory clarity as factors supporting continued accumulation.
Despite $3 billion in unrealized losses due to past high-value acquisitions, BitMine remains optimistic about Ethereum's future role in global finance.
The firm started its Ethereum acquisition in June 2025 and has since reached nearly four million ETH, representing over 3.2% of the circulating supply.

Market Context:

The approval of US Bitcoin and Ethereum ETFs in 2024 enabled public companies to hold digital assets directly.
Fair-value accounting standards and pro-crypto regulatory changes boosted corporate demand for crypto exposure in 2025.

Additional Information:

Bitcoin Hyper, an early-stage project, is gaining traction alongside BitMine's ETH strategy, raising over $28.9 million in its presale.