BitMine Becomes The Second Largest Corporate Crypto Treasury Behind Strategy BTC

While the crypto market evolves in a climate of macroeconomic uncertainty, a major operation has just redefined the balances. In one week, BitMine Immersion Technologies acquired 1.7 billion dollars in Ethereum, crossing the symbolic threshold of 1 % of the total circulating supply.

A colossal operation propelling BitMine into the big leagues

While Ethereum ETFs hit a critical pause, in a statement released on August 18, BitMine Immersion Technologies announced it has added 373,110 ETH to its portfolio over the past seven days, for a total value of 1.7 billion dollars.

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BitMine today announced ETH holdings of 1,523,373 tokens:

– ETH holdings of 1,523,373 is valued at $6.6 billion ($4,323 ETH)
– 373,110 more ETH than a week ago
– $1.7 billion higher than a week ago

link ⛓️:https://t.co/xUgJ1TadQ6

— Bitmine BMNR (@BitMNR) August 18, 2025

With this acquisition, the company now holds 1,523,373 ETH, worth more than 6.6 billion dollars valued at a price of 4,323 dollars per unit. This amount represents more than 1 % of the total Ethereum supply, a symbolic threshold that propels BitMine to the rank of second largest crypto treasury worldwide, just behind Strategy (BTC).

Here are the main revealed elements :

• +373,110 ETH bought in one week ;
• +1.7 billion dollars added to its ETH treasury ;
• 6.6 billion dollars total now in Ethereum ;
• More than 1 % of total ETH supply now in BitMine’s hands ;
• A rapid growth started barely two months ago ;
• All this despite a daily decline of 3.7 % of the BMNR stock, which nevertheless outperforms ETH over 24 hours.

This rapid and sustained accumulation reflects a perfectly calibrated offensive strategy. BitMine seems to have deliberately accelerated its exposure to Ethereum to position itself as a structuring force in the ecosystem.

It should be noted that this operation takes place in a context of strong institutional demand around ETH, boosted by the growing appetite for Ethereum ETFs. BitMine’s acquisitions, far from isolated, fit into a broader movement of crypto portfolio restructuring among listed companies.

A clear macroeconomic vision and an aggressive accumulation strategy

Beyond the numbers, it is the vision that BitMine develops around this strategy that intrigues observers. For Tom Lee, chairman of BitMine and Chief Investment Officer at Fundstrat, the investment in Ethereum fits into a historic dynamic : “The GENIUS Act and the SEC’s Crypto Project are, for financial services in 2025, as transformative as the United States’ August 15, 1971 decision to end the Bretton Woods system was in its time”.

In other words, BitMine sees in the current environment an opportunity comparable to that known by Wall Street at the dawn of the 1970s. The company aims for an ambitious goal : to reach 5 % of the total ETH supply, a strategy Lee calls “the biggest macroeconomic bet of the next 10 to 15 years”.

This direction is reinforced by the recent decision to increase by 20 billion dollars a stock offering intended to finance future Ethereum purchases. This choice positions the company no longer as a mere asset holder but as a true architect of its financial future, betting on the meteoric growth expected of stablecoins and the rise of an institutionalized Ethereum ecosystem.

The enthusiasm for Ethereum ETFs and the entry of other players such as SharpLink Gaming also strengthen this dynamic.

This strategic shift could set an example for other listed companies, inclined to diversify their balance sheets. The ripple effect, combined with an increasingly concentrated ETH supply with 40,000 tokens withdrawn daily, raises questions about network governance and long-term liquidity. If BitMine’s bet proves successful, it will redefine treasury management standards in the crypto era, while reinforcing Ethereum’s systemic role in the emerging digital economy.