World’s Largest Ethereum Holder BitMine Boosts Treasury to $4.96 Billion

BitMine Immersion Technologies (NYSE American: BMNR) has rapidly secured its place as the largest Ethereum (ETH) treasury worldwide and the third-largest cryptocurrency treasury overall.

As of August 10, the company’s ETH stash totals 1,150,263 coins, valued at roughly $4.96 billion – a staggering $2 billion jump in just one week.

The company’s aggressive accumulation began with the launch of its ETH treasury strategy on June 30, closing its initial phase by July 8. In the five weeks since, BitMine’s holdings have surpassed those of every other institutional Ethereum holder, trailing only MicroStrategy and Mara Blockchain in total crypto reserves.

Ambition: 5% of All Ethereum

According to Chairman Thomas “Tom” Lee of Fundstrat, BitMine is pursuing the “alchemy of 5%” – a target to control five percent of Ethereum’s total supply. “We’re leading our peers in both the speed of building net asset value per share and in trading liquidity,” Lee said. The company’s ETH balance grew from 833,137 tokens to over 1.15 million in just seven days.

Heavyweight Backing and High Liquidity

BitMine’s rise has been fueled by a roster of prominent institutional backers, including ARK Invest’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera Capital, Kraken, Digital Currency Group, and Galaxy Digital. Their capital and confidence have helped propel the company’s stock into the top 25 most liquid U.S. equities, with a $2.2 billion average daily trading volume  ahead of JPMorgan and Micron Technology.

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With Ethereum’s network expansion and potential ETF catalysts ahead, BitMine’s massive treasury gives it a unique position in the crypto market. By pairing deep liquidity with aggressive accumulation, the company is signaling long-term conviction in ETH’s role within the broader digital asset ecosystem.

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