BitMine Reaches 2% Ethereum Milestone
BitMine Immersion Technologies has confirmed its ETH treasury has surpassed 2.4 million tokens, representing over 2% of Ethereum’s circulating supply. The company’s crypto and cash reserves total $11.4 billion, including $345 million in unencumbered cash and $175 million in equity “moonshots.” This milestone strengthens BitMine’s ambition to acquire 5% of all Ethereum.
Institutional Support and Market Position
BitMine’s strategy is backed by prominent investors including ARK Invest, Founders Fund, Kraken, and Galaxy Digital. Chairman Thomas Lee emphasized that both Wall Street adoption and agentic AI are fueling Ethereum’s role as the foundation of a tokenized financial system. The company’s shares, now trading over $61, average $3.5 billion in daily dollar volume, placing BitMine among the top 25 most-traded US stocks.
Ethereum as a Macro Trade
Lee compared Ethereum’s importance today to the US leaving the gold standard in 1971, calling it a structural shift that could reshape financial services. He reiterated that Ethereum remains one of the biggest macro trades over the next 10–15 years. By surpassing MicroStrategy’s BTC model in ETH holdings, BitMine aims to become the benchmark for institutional-scale Ethereum investment.
Global Treasury Leader
With its 2.416 million ETH, BitMine now ranks as the largest Ethereum holder globally and the second-largest crypto treasury overall, just behind MicroStrategy’s Bitcoin position. The company’s operations in low-cost energy regions continue to support accumulation and long-term strategy. Investors can access more details in the Chairman’s Message and via the company’s Investor Relations page.