Ethereum’s price momentum is being matched by an aggressive buying spree from one of its largest corporate supporters.
BitMine Immersion Technologies has revealed plans to dramatically expand its share sale program, aiming to raise up to $24.5 billion — funds it says could fuel more Ethereum purchases, alongside bitcoin acquisitions and mining ventures.
The move marks a huge leap from the company’s earlier fundraising targets. What began as a $2 billion at-the-market offering in early July quickly rose to $4.5 billion later that month.
Now, the latest SEC filing increases that figure more than fivefold, underscoring the scale of BitMine’s ambitions.
This expansion comes just after BitMine crossed a major milestone: surpassing 1 million ETH in its treasury. The company now holds 1.15 million ETH — worth about $5 billion — following a single-week addition of 317,000 ETH.
Chairman Tom Lee believes the market could be entering an “Ethereum MicroStrategy” phase, citing favorable regulatory shifts, growing onchain adoption by big institutions, and rising confidence in stablecoin integration.
Ethereum’s price has climbed 5.4% in the past day to $4,405, its highest level since 2021, supported by similar large-scale accumulation from other corporate treasuries. BitMine’s stock has also rallied, adding nearly 15% on Monday and continuing higher in pre-market trade.
Other significant ETH holders include SharpLink with around 599,000 ETH and The Ether Machine with 345,000 ETH. Analysts at Standard Chartered suggest this is only the beginning, projecting that treasury firms could eventually control 10% of the total Ethereum supply.
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Source: https://coindoo.com/ethereums-biggest-corporate-holder-plans-massive-buying-spree/