BitMine (BMNR) says it now holds more Ethereum than any other company in the world. Chairman Tom Lee announced that the firm has built up a treasury of 833,000 ETH, worth around $3 billion at today’s prices. BitMine says these holdings make it “the largest ETH treasury globally.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
If true, it puts BitMine ahead of every major institution in crypto, including Coinbase (COIN) and even Grayscale (ETHE), whose ETH exposure is held through trust products, not corporate reserves. BitMine is saying, proudly, that it owns more of the actual asset than anyone else.
BitMine Built a $3B ETH Stack
BitMine originally made its name in crypto mining and infrastructure. But over the last 18 months, it’s been quietly shifting strategy. According to Lee, the company started buying large amounts of ETH across OTC markets and strategic deals. The goal was simple: to build a long-term position while avoiding price impact.
The firm says it now holds 833,000 ETH in total. That’s nearly 0.7% of the circulating Ethereum supply, making it a major player in the ecosystem by treasury size alone.
Why Ethereum, Not Bitcoin?
In a company release, Lee said BitMine moved with “lightning speed” in its ETH strategy and that the firm believes Ethereum represents the future of digital infrastructure. BitMine believes Ethereum’s real-world usage gives it more upside than Bitcoin. He described Bitcoin as “digital gold” and Ethereum as “digital infrastructure.”
Some of It Is Staked
BitMine isn’t just sitting on its ETH. According to the company, a large portion of the treasury is staked through institutional-grade custody providers. This generates a steady yield while keeping the ETH locked and secure.
The rest remains in cold storage, ready for future strategic use. BitMine says it plans to offer ETH-backed products down the line, though it hasn’t shared exact details.
For now, BitMine’s claim of the world’s largest ETH treasury stands. Unless another player steps forward with proof of a bigger stack, it looks like BitMine owns the crown.
At the time of writing, Ethereum is sitting at $3,670.79.
