BitMine ETH Holdings Surpass 2.65M Tokens as Assets Reach $11.6B

Highlights:

• BitMine ETH holdings total 2.65M tokens, worth $11.6 billion in combined crypto and cash.
• BitMine stock trades $2.6 billion daily, ranking 26th in U.S. volume.
• Public companies now control more than 5.25M ETH, equal to 4.3% of supply.

BitMine Immersion Technologies announced new treasury numbers and highlighted them at $11.6 billion in combined crypto and cash. The company confirmed the possession of 2.65 million Ethereum tokens along with other digital and traditional assets. Its stock is currently one of the most actively traded in the United States.

BitMine ETH Holdings Cement Market Leadership

As of September 28, BitMine ETH Holdings had 2,650,900 tokens worth $4,141 each, according to the press release. The company also owns 192 Bitcoin and $436 million in unencumbered cash. Additional investments include a $157 million investment in Eightco Holdings as part of its “moonshots” strategy.

This accumulation makes BitMine the leading Ethereum treasury in the world. Public records indicate it now holds more than 2% of Ethereum’s supply. The company’s goal is to secure 5% of all tokens in circulation eventually.

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BitMine acquired 234,850 ETH tokens in the past week

– currently reigns as the largest ETH Treasury
– and second largest crypto treasury only behind Microstrategy $MSTR

Ticker: $BMNR
Chairman: Tom Lee @fundstrat pic.twitter.com/SLVLb0YaSI

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) September 29, 2025

BitMine’s Ethereum position is the largest in the world of corporate treasuries. According to StrategicETHReserve, public companies collectively hold more than 5.26 million ETH, representing 4.34% of the total supply.

Stock Trading Volume Surges

BitMine stock has surged into the top ranks of U.S. market activity. Data shows its five-day average trading volume reached $2.6 billion, making it the 26th overall. That level places just behind Marvell Technology and ahead of Visa, according to Fundstrat research.

The high liquidity of the stock keeps attracting retail and institutional investors. Supporters include ARK Invest’s Cathie Wood, Founders Fund, Bill Miller III, Pantera, and Galaxy Digital. Kraken, DCG, and analyst Thomas “Tom” Lee are also backers of BitMine’s strategy.

Lee announced the importance of Ethereum in his statement to the company. He said:

“Ethereum is still very much the top pick based on uptime and reliability. The power law shows favoritism to big holders, hence our pursuit of 5%.”

Ethereum Positioned for Long-Term Growth

BitMine executives believe Ethereum to be a game-changer asset in the coming decade. They believe that both AI and blockchain adoption will reshape the global economy. Neutral public blockchains, they argue, will enable future financial infrastructure.

Lee stressed Ethereum’s discounted price in relation to its potential. He compared the current environment to 1971 when the U.S. gave up the gold standard. That historic decision stimulated the modernization of Wall Street and new financial systems. BitMine expects Ethereum to do a similar thing in transformative ways to global finance.

Despite the ongoing accumulation of Ethereum, spot Ethereum ETFs recorded outflows of $795.6 million last week, with sharp redemptions from Fidelity’s FETH. As per data from SoSoValue, this broke the previous record of $787.7 million while ETH briefly fell below $4,000. This marked the steepest two-day outflow since mid-August.

Meanwhile, Michael Saylor’s Strategy. continues its steady acquisition of Bitcoins. Strategy still leads in Bitcoin, where it has 640,031 BTC worth $71 billion. Its most recent acquisition was 196 BTC for $22.1 million at an average price of $113,048. The company has now bought Bitcoin for nine consecutive weeks, accumulating one of the largest corporate treasuries in history.

Strategy has acquired 196 BTC for ~$22.1 million at ~$113,048 per bitcoin. As of 9/28/2025, we hodl 640,031 $BTC acquired for ~$47.35 billion at ~$73,983 per bitcoin. $MSTR $STRC $STRK $STRF $STRD https://t.co/NnmLONBsRK

— Michael Saylor (@saylor) September 29, 2025