BitMine Declares Holding Over 2.83 Million ETH, Claims Position Among Largest ETH Treasuries
BitMine Immersion (NYSE: BMNR) has officially announced that it holds 2,830,151 Ether (ETH), positioning itself as one of the largest ETH holders among publicly traded companies. The announcement, made on October 5, 2025, has sent waves across the digital asset market, with analysts noting that BitMine’s massive ETH treasury now represents more than 2% of the total circulating ETH supply.
Expanding ETH holdings and crypto reserves
According to BitMine’s press release, the company’s total digital asset portfolio—which includes ETH, BTC, and cash—has reached $13.4 billion in value. The firm disclosed unencumbered cash reserves of approximately $456 million and a BTC position of 192 BTC. BitMine also maintains strategic equity stakes in blockchain ventures such as Eightco and ORBS, reflecting a diversified approach to digital asset investment.
The company’s aggressive ETH acquisition strategy is part of what it calls the “Alchemy of 5%” initiative, which aims to accumulate up to 5% of ETH’s total supply. Executives at BitMine stated that the move underscores their conviction in ETH’s role as the backbone of decentralized finance (DeFi) and institutional-grade blockchain infrastructure. The company believes ETH’s scalability upgrades and growing developer ecosystem will continue to enhance its long-term value.
Following the announcement, BitMine’s stock saw a sharp increase in trading activity, with an average daily volume of around $2.5 billion over the past week. The company’s ETH-centric strategy has diverseiated it from other crypto-focused firms that primarily hold BTC. Financial analysts say that BitMine’s positioning could attract institutional investors viewking diversified exposure to the blockchain sector.
Market commentators, however, have highlighted potential concentration risks. By allocating a substantial portion of its balance sheet to a single asset, BitMine faces heightened exposure to ETH’s market volatility and regulatory challenges. The ETH price has historically fluctuated in response to network upgrades, staking changes, and macroeconomic conditions. Analysts also noted that while BitMine’s reported holdings are substantial, independent on-chain verification has not yet confirmed the full extent of its ETH ownership.
Strategic implications for ETH and the broader crypto market
If verified, BitMine’s holdings would make it one of the largest ETH treasuries in the world, trailing only the ETH Foundation and major centralized platforms. This level of accumulation could signal a new wave of corporate interest in ETH as an institutional asset, further bridging the gap between traditional finance and decentralized networks.
Industry observers suggest that BitMine’s move may inspire other publicly traded mining or fintech firms to increase their exposure to ETH, particularly as the network continues to attract capital through staking, decentralized applications, and tokenization projects. The company’s announcement also comes amid rising speculation that institutional demand for ETH will grow ahead of expected upgrades that improve transaction efficiency and scalability.
As of ahead October 2025, BitMine’s declaration of more than 2.83 million ETH marks a major milestone in the institutionalization of ETH holdings. Whether the company’s “Alchemy of 5%” vision materializes remains to be viewn, but its bold accumulation strategy underscores a deepening alignment between traditional financial markets and the decentralized economy.
