BitMine Boosts ETH Treasury to $9.2B with $200M Buy in 24 Hours

BitMine has expanded its Ethereum treasury with another $200 million ETH purchase this week, bringing total holdings to more than 2.1 million ETH valued at $9.2 billion. The latest move cements BitMine’s position as the largest public Ethereum holder, echoing the role MicroStrategy played for Bitcoin. The back-to-back acquisitions highlight the company’s aggressive strategy to accumulate ETH as institutional demand for digital assets accelerates in 2025.

Buy Details & Stats

According to regulatory filings, BitMine purchased an additional 46,255 ETH this week at an average price of around $4,325 per coin, totaling approximately $200 million. Combined with last week’s acquisition, the company’s Ethereum reserves now stand at over 2.1 million ETH, worth $9.2 billion at current market prices. This puts BitMine well ahead of other corporate and fund treasuries holding ETH, establishing it as the clear leader in institutional Ethereum exposure and signaling confidence in ETH’s long-term growth.

Market Reaction

The announcement of BitMine’s latest purchase sparked fresh attention in the Ethereum market, though ETH’s price held steady near $4,300 amid broader market consolidation. Traders on X highlighted the move as a potential signal of institutional accumulation, comparing BitMine’s strategy to MicroStrategy’s multi-year Bitcoin play. Meanwhile, analysts suggested that the company’s continued buying spree could act as a confidence booster for ETH investors, even if immediate price impact remains muted. For shareholders, the aggressive treasury growth underscores BitMine’s long-term crypto conviction.

What’s Next

With Ethereum trading near record highs, BitMine’s rapid-fire purchases highlight a growing institutional shift toward ETH as a reserve asset. The company’s treasury growth now invites comparisons to MicroStrategy’s Bitcoin strategy, raising speculation that other corporates could follow suit. Market watchers expect further disclosures from BitMine in upcoming quarterly filings, which may reveal whether this aggressive accumulation continues. For now, BitMine’s $9.2 billion ETH position firmly establishes it as the dominant institutional player in Ethereum exposure.

“The supply squeeze is real. If entities like BitMine keep locking ETH into treasuries, we could see reduced float on exchanges and faster price responses,” explained Rahul Iyer, independent DeFi analyst.”

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