NewsBTC
Sep 20, 2025
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BitMine Increases Ethereum Holdings by $70 Million Through OTC Trades

BitMine Immersion Technologies has expanded its Ethereum holdings by nearly $70 million, elevating its total ETH stash to approximately $8.66 billion.

  • The acquisition was executed through Galaxy Digital's over-the-counter desk in multiple settlements: 3,247 ETH ($14.50 million), 3,258 ETH ($14.6 million), 4,494 ETH ($20 million), and 4,428 ETH ($19.75 million).
  • This totals about 15,427 ETH, valued at roughly $69 million.
  • These OTC trades were likely structured to avoid impacting the spot market price.

Current Holdings and Market Impact

  • BitMine now holds approximately 1.95 million ETH, valued at around $8.66 billion.
  • Corporate and institutional reserves of ETH account for a few percent of the circulating supply, with BitMine as one of the largest individual holders.
  • OTC purchases help reduce slippage and maintain order confidentiality.

Source: Arkham

Strategic Considerations

  • Holding large amounts of volatile assets like ETH poses significant risks should prices fall sharply.
  • However, steady accumulation suggests a strategic bet on future appreciation.
  • The exact terms of OTC trades remain private, although some transfers are visible on-chain.

Overall, this move reflects ongoing corporate interest in accumulating ETH, highlighting the strategic importance of cryptocurrency in corporate treasuries.