BitMine Immersion Technologies (BMNR) accumulated 833,137 ETH in just 35 days, placing itself far ahead of its rival and previous frontrunner SharpLink and logging $1.6 billion in average daily trading volume. This move astonished Wall Street as of August 3, 2025.
Key Takeaways:
- Bitmine now have total holdings of 833,137 ETH totaling to approximately $2.9 billion as of August 3, 2025, now considered to be the largest corporate holder of Ethereum.
- This accumulation started from zero on June 30 (strategy launch) through July 8 and onward, amassing 833K ETH in just 35 days.
- Its stock (BMNR) trades at a high liquidity level, with a five-day average dollar volume of $1.6 billion, ranking 42nd among U.S.-listed stocks.
Bitmine secures the spot for being the after purchasing 833,137 ETH, valued at approximately $3,491.86 per ETH as of August 3, also making it not just the largest corporate holders of Ethereum (ETH), but also the largest ETH treasury globally. This rapid accumulation made the Bitcoin mining company overtake Sharplink, which currently holds 438,190 ETH, totaling to approximately $1.6 billion after weekly buys of ~77210 ETH valued at ~$3,756 per token.
According to CryptoSlate’s latest news, this latest acquisition helped BitMine jump to third place in overall crypto treasuries globally, following only behind Strategy (formerly MicroStrategy) and Marathon Digital Holdings, which are also Bitcoin-focused entities.
Meanwhile, Tom Lee, who was recently appointed as chairman of BMNR’s board highlighted the blockchain technology company’s swift accumulation of ETH holdings, noting:
BitMine moved with lightning speed in its pursuit of the ‘alchemy of 5%’ of ETH growing our ETH holdings to over 833,000 from zero 35 days ago. We have separated ourselves among crypto treasury peers by both the velocity of raising crypto NAV per share and by the high liquidity of our stock.
Earlier this month, Lee also noted to CoinDesk that institutional investors are quietly fueling crypto’s next leg up and cautioned against mistaking current disbelief in the rally as a market top.
Meanwhile, SharpLink continues its own aggressive treasury build-up, though remains significantly behind; its ETH concentration in company capital rose to 3.40 after recent buys, and cumulative staking income is adding to the holdings.
Price and Market Impact
As of writing (2:00 PM UTC), ETH trades at $3,621 with a gain of approximately 3.5% over the past 24 hours according to the latest market data provided by TradingView. The news of BitMine’s massive accumulation likely contributed to bullish sentiment surrounding ETH, reinforcing ongoing ETF inflows and institutional interest.
BitMine’s stock itself has seen massive volatility. It skyrocketed over 3,000% in early July, though later dipped 25% after the initial surge. High-profile investors such as Peter Thiel, via Founders Fund, have taken sizable stakes (ranging 9–10%), adding credibility to the strategy.
What’s Next
With 833,137 ETH in its treasury as of August 3, BitMine has definitively overtaken SharpLink and solidified its status as the biggest corporate holder of ether. The pace of buying and depth of investor backing indicate a strategic pivot toward ETH as a key treasury asset and staking income generator. Looking ahead, BitMine’s ability to activate staking operations and deliver returns per share will be a pivotal test for its long‑term thesis. Meanwhile, if Ethereum price crosses major resistance near $4,000 amid persistent demand and ETF inflows, it could reinforce confidence in corporate ETH treasury plays and institutional adoption across the crypto ecosystem.
Summary
BitMine Immersion Technologies has rapidly accumulated 833,137 ETH in just 35 days, becoming the largest corporate holder of Ethereum as of August 3, 2025. This $2.9 billion holding puts it ahead of SharpLink and among the top three crypto treasuries globally. BitMine’s stock (BMNR) is now trading at $1.6 billion daily volume, ranking 42nd among U.S.-listed stocks. The company’s chairman, Tom Lee, describes the move as a strategic pivot toward staking and ETH as digital infrastructure. Ethereum has risen 3.5% to $3,621 on the news, with analysts watching closely for a push toward $4,000.
