BitMine Adds Over 208K ETH, Pushing Holdings Beyond $3 Billion
Ethereum continues to gain momentum in the crypto markets as BitMine Immersion Technologies announced a massive addition of 208,137 ETH to its treasury, bringing its total Ethereum holdings to 833,137 ETH, now valued at over $3 billion. This rapid accumulation places BitMine ahead of other major ETH treasury holders and signals strong institutional appetite for Ethereum.
ETH Price Rallies to $3,730 Before Settling Near $3,654
The announcement coincided with a notable price rally in Ether, which climbed 5.8% from its 24-hour low to a high of $3,730, before stabilizing around $3,654, according to market data. The increase in buying activity and price suggests that institutional purchases are becoming a key driver in Ethereum’s market dynamics.
“BitMine moved with lightning speed… growing our ETH holdings to over 833,000 from zero in just 35 days.”
BitMine Now Among Top 5 Global Crypto Treasury Firms
BitMine’s aggressive Ethereum accumulation strategy has quickly elevated it to the fourth-largest crypto treasury firm in the world, behind only Strategy, MARA Holdings, and Twenty One Capital. With its focus now centered on the “alchemy of 5%” market share in Ethereum, BitMine is clearly establishing dominance.
Its backing by prominent investors and the leadership of a veteran investment strategist has likely played a role in the firm’s fast-paced expansion.
Ethereum Treasury Race Intensifies Among Institutional Players
Other firms are also racing to secure ETH. SharpLink Gaming now holds 438,200 ETH, valued at $1.61 billion, while The Ether Machine follows with 345,400 ETH, including a recent $40 million acquisition. The Ethereum Foundation and PulseChain SAC round out the top five ETH treasuries with 232,600 and 166,300 ETH, respectively.
August Outlook: Institutional Activity May Fuel Further ETH Gains
Market sentiment for August remains optimistic, as recent labor data suggests a softening U.S. economy. If the Federal Reserve eases policy, it could result in a broader market rally. Given crypto’s correlation with equities, Ethereum may continue to gain ground, especially as institutional investors solidify their positions.
BitMine’s aggressive ETH strategy underscores a growing belief that Ethereum remains undervalued and institutionally viable.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.