The firm now controls 3,505,723 Ethereum tokens. At current market prices, this portfolio is valued at approximately $12.3 billion. BitMine Chairman Thomas Lee confirmed the milestone in a statement released on Monday. The company ranks as the world's second-largest crypto treasury, trailing only Strategy's Bitcoin holdings.
BitMine Immersion Technologies has strengthened its position as a major cryptocurrency treasury holder. The company purchased 110,288 ETH tokens in the past week. This acquisition represents a 34% increase compared to the previous week's buying activity.
Top DATs by Crypto Holdings (USD) (Including Strategy), Source: Yahoo Finance
"This pushed our ETH holdings to 3.5 million, or 2.9% of the supply of ETH," Lee stated. He emphasized the company's progress toward a strategic benchmark. "We are now more than halfway towards our initial pursuit of the 'alchemy of 5%' of ETH."
Market Performance and Share Price Movement
At press time, Ethereum was trading at $3,550, representing a 1.16% increase over the last 24 hours. The token has declined nearly 8% over the past month. Market volatility has affected the broader cryptocurrency sector during this period.
BitMine shares demonstrated positive momentum despite the decline in the ETH price. BMNR stock changed hands at $41.97 per share. This represented a 4% gain for the trading session. The company's aggressive accumulation strategy has maintained investor confidence.
The previous week, BitMine added 82,353 ether to its reserves. That purchase brought holdings close to 3.4 million tokens. The consistent buying pattern demonstrates the company's commitment to its stated goal of controlling 5% of Ethereum's total supply.
Treasury Diversification and Cash Position
BitMine maintains a diversified cryptocurrency portfolio beyond its primary Ethereum holdings. The company reported owning 192 Bitcoin tokens. This smaller BTC position complements the firm's Ethereum-focused strategy.
Cash reserves have grown substantially. BitMine announced its cash holdings reached $398 million on Monday. This liquidity provides flexibility for future acquisitions. The robust cash position enables continued token purchases without immediate financing needs.
The broader crypto treasury sector has faced headwinds recently. The total market capitalization of companies holding BTC, ETH, or SOL has decreased. Excluding Strategy, Coinbase, and Tesla, the combined market cap fell to approximately $61 billion by the end of last week. This decline reflects both price movements and shifting market sentiment.
