Bitmine now holds 1.86M ETH, about 1.6% of circulating Ether

BitMine Immersion Technologies, a publically traded Bitcoin mining institution and Ether treasury, said it holds astir 1.9 cardinal ETH — good implicit 1.5% of each circulating Ether.

According to a Tuesday announcement, BitMine holds 1,866,974 Ether (ETH) oregon astir 1.55% of the full ETH supply, 192 Bitcoin (BTC) and unencumbered currency of $635 million. This results successful a combined full superior of $8.98 billion.

According to Strategic ETH Reserve data, Bitmine is presently the world’s largest firm Ether treasury, with its ETH holdings valued astatine implicit $8.1 billion. The second-largest treasury is SharpLink Gaming, with 797,700 ETH, worthy astir $3.43 billion.

BitMine Immersion Technologies Ether holdings chart. Source: Strategic ETH Reserve

The marketplace has seemingly responded good to the announcement, with the banal trading astatine $44.13 astatine the clip of writing, aft a 1.12% summation connected the trading day, according to Google Finance data. The banal is besides up astir 41% implicit the past month, from its Aug. 4 terms of $31.13.

BitMine Immersion Technologies' banal terms chart. Source: Google Finance

Related: Who owns the astir Ether successful 2025? The ETH affluent list, revealed

BitMine is connected a buying spree

The quality follows a play of precocious enactment for BitMine. Last month, Cathie Wood’s ARK Invest purchased an further $15.6 cardinal of shares successful Bitmine Immersion Technologies, bringing its full concern successful the institution to much than $300 million.

This follows Fundstrat Global Advisors managing spouse and BitMine president Tom Lee saying that Ether’s terms was astir to bottommost retired connected Aug. 26. Still, Ether is astir 2.5% down from the terms reported connected Aug. 26.

Ethereum seven-day chart. Source: CoinMarketCap

Lee’s remarks followed BitMine's summation of 373,000 Ether to its treasury successful a azygous week earlier successful August, arsenic its shares dropped 14.2% implicit the aforesaid period.

Related: Ether treasuries ascent to $13B arsenic terms breaks $4,300

Ether treasuries are connected the rise

Ether treasuries person been gaining important traction lately. According to reports released connected Tuesday, Yunfeng Financial Group, a Hong Kong-listed company with ties to Alibaba laminitis Jack Ma, acquired 10,000 ETH worthy astir $44 million.

Today’s reports besides uncover that crypto institution The Ether Machine secured $654 cardinal successful a backstage financing round, collecting 150,000 Ether from salient Ethereum advocator Jeffrey Berns.

Magazine: South Koreans dump Tesla for Ethereum treasury BitMine: Asia Express