Ah, Ethereum! The little coin that could-at least until it started lifting off like a rocket. Over the past few months, its price has done an astonishing pirouette, leaving Bitcoin eating its dust, or perhaps its blockchain. But, dear reader, there’s an even more fascinating twist in this crypto saga: BitMine.
Not just any buyer, BitMine has practically thrown itself into the Ethereum pool, diving in so deep that one might wonder if it’s swimming with the sharks-or rather, swimming with billions in ETH. This publicly traded company has gone on a shopping spree that would make even the most shameless capitalist blush. BitMine now holds more Ethereum than you can shake a stick at. In fact, it’s the largest publicly traded Ethereum treasury in the entire world! And no, it didn’t stumble upon this fortune in a “cryptocurrency sale” like some lucky investor-oh no, this is all part of a grand, calculated masterstroke.
BitMine’s Ethereum Strategy
Led by Tom Lee, who’s less a co-founder and more the Willy Wonka of the Ethereum world, BitMine has set its sights on something audacious. It’s not just buying Ethereum; it’s on a mission to acquire 5% of Ethereum’s entire circulating supply. “Alchemy of 5%”-sounds like the title of a very niche book, doesn’t it? The target here is a rather ambitious $27 billion in ETH. Talk about high-stakes shopping! 💸
From humble beginnings on June 30, 2025, with a modest private raise of $250 million (because why not?), BitMine’s holdings have swelled to a truly jaw-dropping 1.7 million ETH by late August. At this point, its Ethereum stash is worth around $6.6 billion, a sum so large it could make anyone question their life choices. (Do you, too, want to swim in a pool of digital riches?)
Let’s not forget, BitMine isn’t just sitting pretty. They’ve been on a buying spree that could rival any billionaire’s impulse buy at a luxury boutique. From $250 million to $500 million to… well, how much Ethereum can one company even hold? The answer: more than you could ever imagine. Their grand total now stands at 1,713,899 ETH, with a bit of spare change in the form of 192 BTC and a cool $562 million in unencumbered cash. Just in case they get bored of digital coins and need some real ones. 💰
And of course, as is the nature of such grand pursuits, BitMine’s stock has seen quite the climb. From a mere $22.84 per share in July to a now-remarkable $39.84 per share by August’s end. An Ethereum empire, ladies and gentlemen. 🎩
BitWise Climbing The Treasury Rankings
BitMine has done for Ethereum what MicroStrategy did for Bitcoin-become its most loyal, and wealthy, cheerleader. With its newly found treasure trove of ETH, it’s now the second-largest corporate crypto treasury. So, who’s still in the lead? MicroStrategy, of course, with its meager little stash of 632,457 BTC, worth more than $46.5 billion. But who’s counting? Certainly not BitMine, which is comfortably resting in the second spot with a glorious $8.8 billion Ethereum-and-cash empire. 🍾
In a world where crypto is king, BitMine is now a force to be reckoned with. And as the second-largest corporate holder of crypto in the world, it’s clear that their vaults are only growing. All hail the new kings of Ethereum.
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2025-08-30 01:18