BitMine Expands ETH Treasury With $963M Purchase, Now Holds 2.65 Million ETH

New York-based investment company BitMine Immersion Technologies (NYSE: BMNR) has now officially become the largest Ethereum treasury in the world. On September 28th, the company declared that it currently held 2,650,900 ETH worth about $10.87 billion at 4,141 per ETH.

As per data provided by Lookonchain, recently BitMine has purchased 234,846 ETH, whole worth 963 million offering a stronger support to its aggressive accumulation policy. This action makes the company significantly ahead of other corporate Ethereum treasuries, and defines its position as a long-term institutional head of ETH adoption.

BitMine: The Largest Ethereum Treasury in the World

BitMine is now the top Ethereum treasury in the world and the second-largest crypto treasury, after Strategy Inc. (MSTR) which holds 639,835 Bitcoin worth 71 billion dollars. Although MSTR holds a majority of the Bitcoin reserves, BitMine has established its position of Ethereum leader, and this strategy allows it to fit within the context of a digital assets supercycle.

The company also holds 192 Bitcoin (BTC) in addition to Ethereum, a $157 million investment in Eightco Holdings (NASDAQ: ORBS) in its moonshots category, and it holds cash in the amount of 436 million dollars. The company has a total of $11.6 billion in its crypto + cash + moonshots portfolio.

Long-Term Belief in Ethereum

Thomas (Tom) Lee of Fundstrat, the Chairman of BitMine, stressed that Ethereum will still be at the core of macro thesis at the firm. Lee mentioned that Ethereum is the best option due to its high reliability and 100 percent uptime and that the discounted price of the ETH today is a long-term prospect.

Lee also stated that the firm will seek to achieve what he defines as the alchemy of 5 percent of ETH a vision that indicates that large block owners of ETH have a high possibility of defining the future market structures.

A.I., Blockchain, and The Macro Supercycle

BitMine considers both AI and crypto to be the most dominant investing stories behind the 2025 supercycle. They both are based on neutral, decentralized public blockchains. Lee says that the transfer of Wall Street and AI to blockchain infrastructure could be a fundamental change in the financial services sector.

The company further linked the current developments to the changes in the past financial developments. The Act of GENIUS and the Project Crypto started by the SEC was compared to the ending of the gold standard in 1971 in the United States, which transformed modern financial markets. BitMine indicates that blockchain adoption may be another equally massive change.

Ethereum as the Core of Future Finance

Lee repeated the position of BitMine: We still believe Ethereum is one of the largest macro trades in the next 10 to 15 years. As Ethereum is likely to support much of the decentralized financial ecosystem, having BitMine be its long-term bet demonstrates the trust it places in the context of the core of financial and technological innovation.

By further accumulating ETH, not only is the company fortifying its balance sheet but it is also establishing itself as a defining force in the next generation of blockchain finance.