BitMine Holds 3.5M ETH; Propanc Plans $100M ETH Treasury
BitMine Immersion Technologies boosted its ETH holdings by 110,288 during the recent price dip. It now owns 3.5 million ETH, around 2.9% of Ethereum’s 120.7 million supply, valued at $13.2 billion. These ETH holdings now form the centerpiece of its crypto treasury strategy. Acquisitions at roughly $3,903 and $3,639 have left the position at an unrealized loss amid current ETH prices near $3,537.
As the largest corporate Ethereum holder, BitMine surpasses peers and aims to reach a 5% share under its “alchemy of 5%” framework, citing market conditions as an accumulation opportunity. The company’s crypto treasury also holds 192 BTC, $398 million in cash and a $61 million stake in Eightco Holdings. BitMine recently co-hosted a tokenization summit with the Ethereum Foundation at the NYSE.
Meanwhile, Propanc Biopharma secured a $100 million private placement with Hexstone Capital to establish a digital asset treasury focused on ETH for its proenzyme cancer therapy R&D pipeline.
Bullish
Institutional accumulation signals growing demand for ETH. BitMine’s large-scale purchases and 5% supply target reflect confidence in Ethereum’s long-term value, offering price support. Propanc Biopharma’s $100M ETH treasury plan further underscores corporate interest. Short-term volatility may persist due to unrealized losses, but strong institutional buying is typically bullish for ETH.