BitMine’s Ether Holdings Top $3B as ETH Surges 6%, Marking Institutional Momentum Shift

BitMine Buys 208,137 ETH as ETH Price Climbs Toward $3,700

Ethereum saw a sharp uptick on Monday, with ETH rising 5.8% intraday to touch $3,730, before settling at $3,654, according to CoinGecko. Fueling this momentum was another massive ETH purchase by BitMine Immersion Technologies, which added 208,137 ETH to its crypto treasury—pushing the total value of its holdings beyond $3 billion.

The firm now holds 833,137 ETH, solidifying its position as the largest Ether treasury among private firms and widening its lead over competitors.

BitMine Rockets to #4 in Global Crypto Treasuries

Just 35 days after announcing its Ethereum-focused treasury strategy, BitMine now ranks as the fourth-largest crypto treasury firm globally—behind only Strategy, MARA Holdings, and Twenty One Capital.

BitMine’s chair, Tom Lee, also CIO of Fundstrat Global Advisors, has led the charge with support from top-tier institutional investors including:

• Bill Miller III

• Stanley Druckenmiller

• Cathie Wood, CEO of ARK Invest

This marks a pivotal moment in Ethereum’s institutional adoption, reflecting renewed conviction in its long-term value proposition during a robust market cycle.

"Alchemy of 5%": BitMine’s Rapid Rise in ETH Accumulation

“BitMine moved with lightning speed in its pursuit of the ‘alchemy of 5%’ of ETH, growing our holdings from zero to over 833,000 in just over a month,” said Tom Lee in a company statement.

Lee also noted the firm’s crypto NAV-per-share growth and high stock liquidity as unique advantages in the increasingly competitive ETH treasury landscape.

Largest Ethereum treasury firms by ETH holdings. Source: StrategicETHReserve.xyz

Related: Bitcoin ETFs Face $812M Outflow, While Ether ETFs Snap 20-Day Inflow Streak

Source: StrategicETHReserve

The aggressive accumulation suggests strong belief in ETH’s performance potential during the current market cycle.

Tom Lee: August Rally Could Be “Stronger Than Expected”

Lee also expressed rare bullish sentiment for August—traditionally a weak month for crypto—based on recent macroeconomic shifts. In a CNBC interview, he pointed to softening U.S. labor data and an expected pivot by the Federal Reserve away from tightening.

“I think we’re going to rally pretty strongly in August,” Lee said.

“With equities nearing all-time highs, crypto—especially Ethereum—could follow closely due to its high correlation with the broader market.”

Conclusion: Ethereum’s Institutional Moment Is Here

BitMine’s swift ETH accumulation and the broader inflow of institutional capital into Ethereum signal a shift in market dynamics. Once dominated by retail narratives, ETH is now seeing structured, strategic purchases from deep-pocketed investors aiming to front-run the next leg of the bull market.

With Ethereum trading above $3,650 and institutional confidence on the rise, ETH’s positioning as a digital asset with long-term value appears stronger than ever.

Related: SharpLink Expands Ethereum Holdings to $1.65B With $108M ETH Buying Spree