In Brief
- BitMine now holds 2.83 million ETH, valued at approximately $13 billion total.
- BMNR shares rose over 5% following the Ethereum acquisition announcement.
- BitMine is the second-largest crypto treasury globally, behind only MicroStrategy.
BitMine Immersion Technologies increased its Ethereum holdings to $13 billion after acquiring 179,251 ETH last week. The transaction was valued at approximately $823 million based on current market prices.
This purchase brought the firm’s total ETH treasury to 2.83 million tokens, further solidifying its lead in public ETH holdings. BitMine acquired the assets at an average price of $4,535, below Ethereum’s current trading price of $4,648.
Ethereum has gained nearly 11% in value over the past week, according to data from CoinMarketCap. BitMine’s position has benefited from both strategic acquisition timing and positive price momentum.
In addition to ETH, BitMine holds 192 Bitcoin valued at $24 million and a $113 million stake in Eightco Holdings. The firm also maintains $456 million in cash reserves, enhancing its overall liquidity profile.
Stock Rises on Purchase News, Market Eyes 3 Million ETH Target by Month-End
BitMine’s acquisition made it the world’s largest public Ethereum holder, ahead of SharpLink Gaming’s $3.85 billion ETH treasury. Overall, it now holds the second-largest crypto treasury globally, trailing only MicroStrategy’s $80 billion Bitcoin reserve.
Investor sentiment responded positively, with BMNR shares rising over 6% on Monday to $60.35. The stock has climbed 37% in the past month, according to Yahoo Finance.
The company’s leadership participated in Token2049, meeting Ethereum developers and ecosystem partners to discuss growth and adoption. Industry signals suggest ongoing institutional interest in Ethereum as a foundation for AI and financial infrastructure.
Data shows rising expectations that BitMine will reach 3 million ETH by October 27. The probability of reaching this milestone currently stands at over 86%, with growing market confidence.
Public companies continue to increase Ethereum allocations as crypto treasury strategies evolve beyond Bitcoin. BitMine remains at the forefront of this trend, guided by market dynamics and long-term conviction in ETH.
The ETH accumulation race reflects broader shifts in institutional positioning within the digital asset sector. BitMine’s activity marks a notable development as Ethereum gains further traction among public firms.
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Source: https://coincu.com/uncategorized/bitmine-expands-ethereum-holdings-to-13b/