BitMine Immersion Buys Big: ETH Holdings Surge Past 2.83 Million in $13.4B Crypto Bet

BitMine Immersion Technologies (NYSE American: BMNR) has revealed a massive expansion of its crypto treasury, confirming total holdings of $13.4 billion in digital assets and cash.

The company now owns more than 2.83 million Ether (ETH) – representing over 2% of the total ETH supply – as it pursues its long-term goal of controlling 5% of the Ethereum network.

According to the latest company filing, BitMine’s treasury includes 2,830,151 ETH valued at $4,535 each, 192 Bitcoin (BTC), and $456 million in unencumbered cash. Additionally, it holds a $113 million stake in Eightco Holdings (NASDAQ: ORBS), categorized under its “moonshot” investments.

Ethereum Takes Center Stage in BitMine’s Strategy

BitMine now ranks as the largest Ethereum holder in the world and the second-largest crypto treasury globally, just behind Strategy Inc. (MSTR) – which maintains over 640,000 BTC worth approximately $79 billion.

Chairman Thomas “Tom” Lee emphasized that the company’s focus remains firmly on Ethereum’s long-term value. Reflecting on discussions during Token2049 in Singapore, Lee noted that the intersection of AI and blockchaincontinues to drive institutional innovation. “Ethereum’s reliability and uptime make it the natural foundation for Wall Street and AI infrastructure,” Lee said. “We see ETH as one of the most important macro trades over the next decade.”

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He added that BitMine’s strategic pursuit of the “alchemy of 5%”, owning a significant portion of the ETH supply, is rooted in network economics. “The power law favors large holders,” Lee said, comparing the opportunity to the transformational moment when the U.S. ended the Bretton Woods system in 1971, sparking decades of financial modernization.

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