BitMine Immersion Technologies has reached a significant milestone by expanding its Ethereum holdings to 2,069,443 ETH worth approximately $9.2 billion, making it the world's largest corporate Ethereum treasury holder. The company added 202,469 ETH for $874.59 million between September 1-7, 2025, at an average price of $4,321 per ETH.
Beyond its massive Ethereum position, BitMine maintains 192 BTC and $266 million in cash reserves, positioning it as the second-largest overall crypto treasury behind MicroStrategy (MSTR). The company's stock (BMNR) experienced a slight dip of 0.3% in premarket trading, though it has rallied 479% year-to-date and ranks among the most actively traded US stocks with average daily volume of $2.3 billion.
Chairman Tom Lee reaffirmed his long-term bullish stance, predicting Ethereum could reach $60,000 due to Wall Street's blockchain adoption and AI-driven token economy creating a "supercycle" for ETH. Lee stated: "The power law benefits large holders of ETH, hence, we pursue the 'alchemy of 5%.'" indicating BitMine's ambition to secure 5% of Ethereum's total supply.
Concurrently, BitMine launched its "Moonshot" strategy by investing $20 million in Eightco Holdings for WLD treasury support, allocating 1% of its balance sheet to Ethereum ecosystem projects. ETH price held above $4,300 with a 30% increase in trading volume, while derivatives markets showed cautious sentiment with open interest rising only 0.14% to $59.69 billion.