BitMine has been aggressively acquiring Ethereum, solidifying its position as the largest corporate holder of ETH. The company’s treasury has outpaced competitors, garnering global attention.
Summary
- BitMine has boosted its Ethereum holdings with a new $46 million acquisition.
- Since mid-July 2025, the company has been accumulating ETH, now ranking as the largest corporate holder.
- Overall corporate Ethereum holdings are rising, now valued at nearly $20 billion.
BitMine recently purchased an additional 9,600 ETH for approximately $45 million, according to on-chain data from Lookonchain as of Aug. 24. This acquisition brings its total ETH holdings to around 1.58 million, valued at nearly $7.5 billion based on current prices.
This multi-million dollar investment continues the firm’s buying trend over the last month, initiating its ETH accumulation in mid-July 2025 with an initial purchase near half a billion dollars. In just over a month, BitMine’s holdings have significantly increased, positioning it as the largest corporate ETH holder worldwide.
Chairman Tom Lee has framed this portfolio expansion as part of a broader long-term strategy, aiming to eventually possess five percent of Ethereum’s total supply. This approach is driven by the firm’s belief in Ethereum’s capacity to transform the financial landscape and foster widespread adoption of blockchain technology.
“We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years,” stated the CEO. “Wall Street and AI transitioning to the blockchain are expected to dramatically reshape the current financial system, with most of this occurring on Ethereum.”
The Vegas-based company is supported by major institutional investors like ARK Invest and Pantera Capital, and its ongoing accumulation is driving overall corporate ETH holdings to new heights.
The bigger picture of corporate ETH holdings
According to the latest data from StrategicETHReserve, corporate treasuries currently hold approximately $19 billion in ETH. This represents an increase from just under $17 billion a week ago, with BitMine’s $7.5 billion constituting the largest share.
Other companies are also enhancing their Ethereum reserves. SharpLink Gaming, the second-largest corporate ETH holder, has over 740,000 ETH valued at more than $3.5 billion, while The Ether Machine ranks third, holding over 345,000 ETH worth about $1.6 billion.
The Ethereum Foundation, which manages the protocol’s treasury, oversees hundreds of thousands of ETH valued at just over $1 billion. Collectively, BitMine, SharpLink, and the Foundation represent the majority of the over $19 billion in disclosed corporate ETH holdings, with smaller firms accounting for the remainder.
As the trend of aggressive accumulation continues, Ethereum co-founder Vitalik Buterin has raised concerns about potential risks, warning that it could lead to “leveraged poker.” He cautioned that companies could over-leverage their ETH reserves, making them vulnerable to forced liquidations during downturns, potentially intensifying volatility and undermining confidence in Ethereum’s stability.
On August 23, ETH surpassed $4,900, marking a new all-time high, but subsequently could not sustain those gains. As of the latest reports, ETH is trading just above $4,535, down about 4.3% in the past 24 hours.
