BitMine surpasses 2M ETH, becomes world largest Ethereum treasury
BitMine has achieved a major milestone, announcing that its Ethereum holdings have surpassed 2 million ETH, making it the largest Ethereum treasury globally and one of the biggest corporate crypto treasuries overall.
The company disclosed it now controls 2,069,443 ETH worth $8.5 billion, alongside 192 BTC and $266 million in cash, pushing its total assets to $9.21 billion, reports Bitcoinist.
This represents 1.71% of Ethereum’s circulating supply, part of BitMine’s long-term goal to control 5%. Chairman Thomas “Tom” Lee described the milestone as a strategic move to capture the “supercycle” he sees emerging from Wall Street adoption of blockchain and the rise of agentic AI economies.
Racing ahead in the corporate treasury landscape
In just a month, BitMine has grown from holding 1.15 million ETH to more than 2 million, overtaking peers to become the second-largest crypto treasury overall, trailing only Michael Saylor’s Strategy, which holds over 636,000 BTC valued at $71 billion. Lee emphasized BitMine’s leadership in crypto NAV growth per share and stock liquidity, positioning it as a preferred equity proxy for Ethereum exposure.
The firm’s aggressive buying pace has also resonated with international investors—South Korean retail traders poured hundreds of millions into BitMine stock in July and August, making it the most purchased foreign equity through the Korea Securities Depository.
Expanding Ethereum’s ecosystem through “Moonshot” strategy
BitMine is also channeling capital into Ethereum-aligned ventures, recently committing $20 million to Eightco Holdings (NASDAQ: OCTO) as part of its $270 million PIPE. Eightco plans to adopt Worldcoin (WLD), an ERC-20 asset, as its primary treasury holding, aligning with BitMine’s effort to strengthen Ethereum-based projects. Dubbed the “Moonshot” strategy, BitMine aims to allocate 1% of its balance sheet into ventures that bolster the Ethereum ecosystem while creating equity value for shareholders.
With average daily trading volume of $1.7 billion, BitMine has become one of the most liquid crypto-linked equities in the U.S., increasingly seen as a gateway for investors seeking exposure to Ethereum’s long-term growth story.
Recently we wrote that BitMine has officially surpassed the $2 billion mark in Ethereum holdings, making it the single largest ETH holder globally.
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