BitMine Immersion Technologies (BMNR) has solidified its position as the largest known Ethereum treasury among publicly traded companies, announcing it now holds 4,066,062 ETH. This milestone, representing 3.37% of the total ETH supply, was achieved after the firm acquired an additional 98,852 ETH last week in a purchase valued at roughly $300 million.
The company's total crypto and cash holdings are now worth $13.2 billion. Beyond its massive ETH position, the portfolio includes 193 Bitcoin, $1 billion in cash, and a $32 million equity stake in Eightco Holdings. Chairman Thomas Lee highlighted that reaching the 4 million ETH mark took just 5.5 months, keeping the firm on track toward its long-term goal of owning 5% of all ETH.
BitMine continued its aggressive accumulation strategy even during recent market volatility. The latest purchase occurred as ETH's price slid from $3,170 to below $2,800 before rebounding above $3,000. Despite an estimated $3 billion in unrealized losses on its ETH holdings, the company's strategy remained unchanged. The news contributed to a 4.5% rise in BMNR shares in pre-market trading.
Globally, BitMine now ranks as the #1 Ethereum treasury and the #2 overall public crypto treasury, trailing only Strategy Inc. with its 671,268 BTC holdings. The firm is also advancing its staking infrastructure, the Made in America Validator Network (MAVAN), which is scheduled for deployment in early 2026.
Lee cited regulatory developments like the GENIUS Act and the SEC's Project Crypto as transformative forces for the industry. Reflecting its growing influence, BitMine stock has become one of the most actively traded U.S. equities, with an average daily trading volume of $1.7 billion.
