BitMine hits largest ETH treasury milestone

BitMine reports ETH holdings surpassing 1.15 million tokens, valuing the treasury at about 4.96 billion and positioning the company among the crypto treasuries with high liquidity.

BitMine Holds World’s Largest ETH Treasury Worth 4.96 Billion

BitMine Immersion Technologies announced that its ETH holdings exceed 1,150,263 tokens, valued at roughly 4,311 dollars per ETH, for a total of about 4.96 billion. The milestone, reached on August 10, follows a treasury launch that began on June 30 and closed July 8, marking BitMine as the largest ETH treasury in the world and the third largest crypto treasury overall behind MicroStrategy and Mara Blockchain.

The company lists strong institutional support from ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG and Galaxy Digital, with a stated goal of acquiring 5 percent of ETH. BitMine’s stock has also grown in liquidity, averaging about 2.2 billion dollars in daily trading and ranking 25th among US-listed stocks, according to Fundstrat data.

The release frames the effort as a bold, long‑term investment strategy in ETH with ambitions tied to long‑term wealth creation rather than short‑term trading. The details are laid out in an investor presentation and press materials that emphasize growth in crypto NAV per share and high stock liquidity as competitive advantages.

BitMine’s approach blends a treasury play with public market visibility. By amassing a large ETH stake and linking it to a liquid equity vehicle, the company aims to combine asset appreciation with tradable value for shareholders. This creates a new dynamic in which a single corporate treasury can influence both ETH exposure and stock liquidity, inviting closer scrutiny of governance, risk controls, and valuation assumptions.

The strategy raises questions about concentration risk, market impact, and oversight. A 5 percent ETH target concentrates crypto exposure in one institution, which can magnify volatility if ETH prices move sharply or if regulatory conditions shift. The involvement of high‑profile investors adds credibility but also public scrutiny as the treasury model gains traction among peers who may reassess capital allocations in a turbulent crypto cycle.

Highlights

Market watchers will see how this bold treasury experiment adapts to volatility and policy shifts.