BitMine treasury reaches $9.2B after $201M ETH purchase
BitMine Immersion Technologies purchased 46,255 ETH worth approximately $201 million on Sept. 10 through three separate transfers from BitGo. The acquisition came just days after the company bought 202,500 ETH on Monday, bringing its total holdings above 2.1 million coins valued at around $9.2 billion.
The NYSE American-listed company (BMNR) now holds more than 2.1 million ETH compared to second-largest corporate holder Sharplink's 837,000 ETH. Blockchain tracking services confirmed the Wednesday transfers from a BitGo wallet to BitMine's addresses.
BitMine has pursued an aggressive ETH accumulation strategy since late June, when it shifted to an Ether-first treasury approach. The company rapidly built its holdings through July and became the largest publicly traded Ethereum holder within weeks of the policy change.
Beyond its treasury activities, BitMine disclosed a $20 million strategic investment in Eightco Holdings as part of a $270 million private placement round. Eightco plans to adopt Worldcoin (WLD) as its primary reserve asset.
Company chairman Tom Lee stated that BitMine "continues to believe Ethereum is one of the biggest macro trades over the next 10-15 years." The company has outlined plans to acquire 5% of ETH's total supply.
Previously, GNcrypto reported that Cathie Wood’s ARK Invest bought 101,950 BitMine (BMNR) shares as the company’s ETH holdings passed 2 million (approximately $9.3 billion). BitMine's rapid Ether accumulation since summer has established it as the dominant corporate holder in the space, with holdings now exceeding 2.5 times those of its nearest competitor.
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