BitMine Expands ETH Treasury With $140M ETH Purchase, Onchain Data Shows

BitMine Immersion Technologies has increased its ETH holdings again. over the past week, the top ETH treasury company acquired approximately 48,049 ETH worth about $140 million. The accumulation adds to the firm’s growing crypto reserve, positioning BitMine as arguably the most aggressive institutional holder of ETH outside of core protocol community treasuries.

With this move, BitMine is doubling down during an ETH price dip, showing bullish conviction in ETH’s long-term use case as a store of value.

BitMine Continues Its Strategic ETH Accumulation Despite Volatility

For , the purchase aligns with a broader accumulation strategy the firm has pursued since ahead 2025. Previously known for its innovative positioning in ETH staking and treasury diversification, BitMine has now established a sizeable ETH reserve, likely to complement its staked ETH positions, staking derivatives, and implied yield strategies. 

This timing is noteworthy because ETH has experienced bouts of price volatility tied to macroeconomic pressures. Rather than stepping back amid uncertainty, BitMine’s continued purchases suggest confidence that ETH’s fundamentals, including smart contract adoption and layer-2 scaling support, remain robust enough to justify large treasury allocations even during pullbacks.

According to , the 48,049 ETH purchase is one of the largest single treasury increases recorded outside of institutional ETFs and sovereign-level allocations this year. It also happens at a time when large market participants are consolidating their yield-bearing positions. This supports the school of thought that ETH is cementing its place in the broader institutional cryptocurrency ecosystem.  

Continuous Institutional Demand Boosts Confidence and Liquidity

BitMine’s new ETH accumulation sends several signals to the market and institutional participants, especially those investing in smart contract assets. Though BTC remains the top choice for corporate and institutional treasuries, ETH is quick rising as a multipurpose asset due to its dominance in DeFi, NFTs, and tokenization infrastructure.

Also, accruing ETH during a demonstrates a contrarian style of accumulation. Instead of tradeing off its assets, BitMine’s approach may embolden other holders to purchase the dip, as the volatility can be an opportunity for scaling their positions.

If other institutions follow suit, ETH could view renewed institutional interest that strengthens liquidity, deepens markets, and broadens its appeal beyond purely DeFi or blockchain circles.

However, despite the bullish signals, the strategy carries inherent risks, including price volatility, market liquidity, and exit risks. So, as BitMine’s $140 million ETH purchase and expanded ETH treasury illustrate a bold institutional stance in a maturing digital-asset market, increasing its holdings during a price dip isn’t enough. 

The company must continually demonstrate its strategic conviction in ETH’s long-term role as a foundational blockchain asset and also mitigate the various risks involved in that process. For now, BitMine’s move stands as one of the clearest institutional accumulation signals of 2025 and a compelling reminder of the evolving nature of crypto’s institutional adoption.