BitMine’s Ethereum Treasury Grows to 1.87M ETH, $8.98B Holdings
BitMine Immersion Technologies (BMNR) has expanded its crypto and cash reserves to $8.98 billion by August 31, making it the world’s largest Ethereum treasury.
Since launching its Ethereum Reserve Plan in July, the firm’s holdings rose from 1.52 million to 1.87 million ETH, valued at $4,458 each. This Ethereum treasury strategy also includes 192 BTC and $635 million in cash, ranking second only to MicroStrategy among corporate crypto treasuries.
Backed by ARK Invest, Founders Fund and Pantera, BitMine highlights the GENIUS Act and SEC Project Crypto as long-term growth drivers. The company has released an investor deck and a video presentation by Chairman Tom Lee.
These developments underscore BitMine’s bullish stance on ETH and signal growing institutional confidence in crypto assets.
Bullish
BitMine’s significant ETH accumulation, rising to 1.87 million, and the launch of its Ethereum Reserve Plan signal strong demand from a major institutional player. The sizable cash reserves and planned $20 billion share offering further indicate capacity for continued ETH purchases. In the short term, such large-scale buying is likely to support prices as traders anticipate further accumulation. In the long term, BitMine’s actions and highlighted regulatory drivers (GENIUS Act, SEC Project Crypto) reflect growing confidence in Ethereum’s outlook, potentially encouraging more institutional inflows. Overall, the news is bullish for ETH.