BitMine Immersion Technologies Inc. has emerged as a dominant player in the cryptocurrency sector, having accumulated over 2.15 million ETH tokens valued at around $10 billion. This impressive holding solidifies the company’s status as the world’s largest Ethereum treasury holder.
As of September 14, BitMine’s total crypto and cash assets reached approximately $10.771 billion. The portfolio includes 2,151,676 ETH, along with 192 Bitcoin, $214 million in speculative “moonshot” investments, and $569 million in liquid cash. This positions BitMine firmly as the second-largest crypto treasury globally, following Strategy, which holds an astounding $74 billion worth of Bitcoin.
Chairman Tom Lee highlighted the company’s recent achievements, noting, “BitMine has nearly $11 billion in total crypto holdings, surpassing the 2 million ETH milestone.” He underlined the company’s goal of acquiring 5% of Ethereum’s total supply, citing the advantages of holding large amounts of ETH in the face of market dynamics. “The power law benefits large holders of ETH; hence, we pursue the ‘alchemy of 5%’ of ETH,” Lee remarked.
This significant announcement coincides with a notable increase in digital asset investment, which gained $3.3 billion in inflows last week, according to recent data from CoinShares. The total assets under management in this sector have surged to $239 billion, nearing record highs seen in August. Ethereum has recently attracted renewed interest, amassing $646 million in inflows after a streak of eight consecutive days of outflows.
Further reflecting the positive momentum in the digital assets market, Bitcoin recorded a substantial $2.4 billion in weekly inflows, while Solana achieved its largest single-day inflow of $145 million last Friday. This widespread recovery in the crypto space follows weaker-than-expected macroeconomic indicators from the U.S. and the end-of-week price gains across various digital assets.
Looking ahead, BitMine’s strategic direction leans heavily on Lee’s belief that Wall Street’s transition to blockchain infrastructure will predominantly occur on the Ethereum platform. “We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years,” he stated. Lee anticipates that the convergence of Wall Street and artificial intelligence onto the blockchain will bring about a significant transformation in the modern financial landscape, largely centered around Ethereum.
