BitMine Surpasses $2 Billion in Ether Holdings
Ether extended its bullish run on Thursday after BitMine Immersion Technologies announced its ETH holdings crossed $2 billion.
The milestone comes just 16 days after the firm closed a $250 million private placement to support its Ether treasury strategy.
BitMine acquired 566,776 ETH at an average price of $3,643.75.
This marks a significant leap toward the company’s goal of owning 5% of the total circulating Ether supply.
BitMine’s Long-Term Strategy Centers on Ether
BitMine, traditionally a Bitcoin mining firm, is pivoting aggressively into Ether.
The company’s strategy blends ETH accumulation, staking, and structured financing to grow balance sheet assets.
“Our asset-light model lets us scale Ether holdings efficiently,” said CEO Jonathan Bates.
By using internal cash flow and outside capital, BitMine aims to increase ETH-per-share performance.
Chairman Tom Lee emphasized the firm’s confidence in Ether as a long-term treasury asset.
“We’re building around staking yield and capital market opportunities,” he explained.
BitMine Launches Equity Options to Expand Market Reach
Alongside its ETH announcement, BitMine revealed the launch of options contracts under the ticker BMNR.
These contracts now trade on the NYSE Options Market and offer multiple strike prices and expiration dates.
“This is a major milestone,” said Lee.
“The options give investors more ways to express views on BitMine’s growth and our Ether strategy.”
The company’s shares jumped 15.7% early Thursday, hitting $45.70 before settling near $42.64 midday.
The stock remains up nearly 8% on the day, continuing a multi-week rally.
Institutional Interest in Ether Is Accelerating
BitMine isn’t alone in its bullish ETH stance.
Institutional demand for Ether is clearly rising, with ETF inflows reaching record levels.
BlackRock’s iShares Ethereum Trust ETF (ETHA) has doubled AUM in just 10 days, reaching $10 billion.
It’s now the third-fastest ETF ever to hit that milestone, trailing only IBIT and FBTC.
Bloomberg’s Eric Balchunas described the ETHA growth as “explosive,” noting how it confirms mainstream interest in Ether.
Why Ether Is Gaining Institutional Traction
More firms are allocating capital to Ether thanks to its dual utility as a digital asset and staking tool.
Unlike Bitcoin, Ether enables smart contracts, DeFi, and Web3 development.
With Ethereum’s staking yields offering passive income, the asset is increasingly attractive to treasury managers.
BitMine is capitalizing on this by locking ETH and capturing yield while maintaining long exposure.
BitMine Aims for a 5% Share of Total Ether Supply
BitMine’s bold goal is to own 5% of all circulating Ether.
This would make it one of the world’s largest ETH treasury holders outside of ETF providers.
To fund that goal, BitMine plans continued capital raises through equity and debt markets.
Its recent $250 million round is only the beginning of a much larger balance sheet expansion.
If Ether continues its rally, BitMine’s assets will appreciate substantially—boosting investor returns and market positioning.
Final Thoughts: BitMine Is Betting Big on Ether
BitMine’s $2 billion ETH milestone confirms that Ether is now a strategic institutional asset.
With staking, ETF flows, and treasury demand all rising, ETH is evolving beyond a simple cryptocurrency.
BitMine’s treasury-centric approach reflects growing confidence in the Ethereum network’s long-term value.
As institutions follow suit, Ether may become a core asset in more corporate portfolios moving forward.
