BitMine Skyrockets Ethereum Value to Near $10B: Inside the $45M Move

BitMine Boosts Ethereum Stash: A Trend in Corporate ETH Purchases

BitMine Immersion has substantially expanded its Ethereum holdings, adding 10,320 ETH worth $44.6 million through Galaxy Digital OTC. The move pushes BitMine’s total stash to 2.07 million ETH,valued at nearly $8.94 billion.

This recent acquisition comes shortly after a massive $358 million buy that established BitMine’s month-long ETH purchasing spree. Now, BitMine’s Ethereum reserve equals 1.71% of the total supply. Though, it still only meets 34.2% of its long-term goal, indicating substantial future investments.

BitMine isn’t alone in this trend. Many companies see Ethereum as a strategic asset. Across 70+ entities, total institutional ETH reserves stand at 4.91 million, worth $21.29 billion—just over 4% of the total supply.

Other notable accumulators include SharpLink gaming and The Ether Machine. SharpLink holds 837,000 ETH (around $3.63 billion), while The Ether Machine has amassed 495,000 ETH ($2.15 billion). in the last 30 days, SharpLink saw a 60% increase in holdings, and The Ether Machine witnessed a 43% rise.

• BitMine’s holdings soared 148% in value as its acquisition trend accelerated.
• As mid-July, more than 70 firms have been accumulating Ethereum.
• These massive buys signal a growing institutional appetite for ETH as a core treasury asset.

As more firms stockpile Ethereum, the cryptocurrency gains traction beyond individual wallets, solidifying its role in corporate finance strategies.