- BitMine surpasses SharpLink with 300,657 ETH holdings.
- Ethereum’s rising institutional demand fuels growth.
- BitMine targets 5% of total ETH supply.
This event marks a significant development in cryptocurrency, showcasing institutional interest in Ethereum as BitMine surpasses industry rivals, impacting market trends significantly.
BitMine Immersion Technologies, formerly a Bitcoin mining company, strategically aligns to accumulate Ethereum holdings. The company, as of July 2025, possesses more than 300,000 ETH, valued over $1 billion. This move positions BitMine as the largest public ETH holder.
BitMine’s leadership, led by CEO Jonathan Bates, has actively initiated this change. Supported by Peter Thiel’s Founders Fund, BitMine has rapidly shifted its focus to Ethereum treasury management. The company aims to stake 5% of Ethereum’s supply.
“Acquiring $1 billion of ETH is a clear signal of our conviction in Ethereum’s long-term value. We are committed to Ethereum’s continued growth and look forward to advancing our Ethereum treasury strategy.” — Jonathan Bates, CEO, BitMine Immersion Technologies
Financial markets have reacted notably, as BitMine shares surged in response to this announcement. The broader cryptocurrency market felt the ripple effects as institutional inflows into Ethereum rose, marked by BlackRock’s $2.1 billion Ethereum fund inflow.
Meanwhile, BitMine’s actions underscore the growing importance of Ethereum as a corporate treasury asset. This strategy comparison with prior Bitcoin-focused treasury initiatives highlights Ethereum’s increased fintech presence in treasury portfolios.
Industry observers and financial experts suggest that BitMine’s initiative may prompt significant regulatory and technological advances within the crypto space. The emphasis on Ethereum governance and network security could lead to substantial future impacts.
