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BitMine (BMNR) said its total crypto and cash holdings surpassed $9.2B, propelled by a wave of recent ether purchases. The firm now holds over 2M ETH, making it the largest corporate Ether holder and the second-largest crypto treasury overall, behind only Strategy.
What’s the Scoop?
- ETH Stack Surges: BitMine’s ETH position has jumped from 1.75M last week to over 2M, suggesting it added 319,000 ETH for roughly $1.4B. The company's ETH holdings are now valued at more than $8.9B.
- Strategic Investment: BitMine invested $20M into Eightco Holdings as part of its $270M PIPE deal. Eightco plans to make Worldcoin’s WLD its primary treasury asset.
- Moonshot Program Launch: The Eightco deal marks the debut of BitMine’s “Moonshot” initiative, allocating ~1% of the balance sheet toward projects aligned with
Ethereum ecosystem growth. - Treasury Race Heats Up: BitMine’s massive accumulation contributes to the 2.78M ETH now parked in public company treasuries, worth nearly $12B and representing 2.3% of ETH’s circulating supply.
- 5% Target: BitMine Chair Tom Lee has reaffirmed long-term plans to control 5% of ETH’s supply — approximately 6.3M ETH — calling Ethereum one of the “biggest macro trades” of the next 10–15 years.
Bankless Take:
Laggard ETH has transformed into of the best performing crypto assets in recent months. Whether DATs are responsible for the paradigm shift is unclear, but aggressive accumulation underscores the positive shift in Ethereum's perception.
This is correct @amitisinvesting $BMNR purchased 13.7mm shares of $OCTO for $1.46 per share, or $20 million in total, as part of BitMine's 'moonshot' 🌙strategy
— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) September 8, 2025
This directly benefits BitMine shareholders as this investment is currently worth $1.1 billion to $BMNR… https://t.co/NAMRgfDuPa
