BitMine Immersion Technologies is making major waves in the crypto world by aggressively investing in Ethereum. The U.S.-based company recently announced that it now holds a massive 1,713,899 ETH, worth around $7.94 billion. This makes BitMine the largest Ethereum-holding company in the world.

In addition to its Ethereum stash, BitMine also holds $562 million in cash and 192 Bitcoin. Altogether, the company’s total crypto and cash reserves now stand at approximately $8.82 billion. This rapid growth shows how BitMine is changing how companies manage their crypto assets, especially in terms of building a strong digital treasury.

Just last week, BitMine added 190,526 ETH to its portfolio, spending about $883 million. That single move boosted the company’s balance sheet by $2.2 billion. With this, BitMine now ranks second overall in total crypto holdings, trailing only behind MicroStrategy, which owns over 629,000 Bitcoin valued at $71 billion.

BitMine launched its Ethereum treasury program on June 30 and wrapped up the first phase on July 8. Since then, it has quickly expanded its ETH holdings with strong backing from institutional investors.

This bold strategy has paid off in the stock market. BitMine’s stock (BMNR) surged to $53.49, climbing over 12% in just one day, according to Yahoo Finance. Meanwhile, Ethereum was trading at $4,662.35, slightly down by 2.08% over the past 24 hours, based on data from CoinMarketCap.

Thomas Lee, chairman at Fundstrat, commented on BitMine’s momentum: “In just one week, the company increased its crypto and cash reserves by $2.2 billion.” He highlighted that BitMine leads the industry in both growing its net asset value (NAV) per share and maintaining high trading liquidity for its stock.

BitMine believes that Ethereum is a long-term investment opportunity. According to Lee, Ethereum could become one of the most important investments over the next 10 to 15 years. He pointed out that trends like Wall Street and AI moving toward blockchain technology will drive global financial change—and Ethereum is right at the center of it.

Currently, BitMine’s crypto and cash NAV per share has jumped to $39.84, up from $22.84 just a month ago. With an average daily trading volume of $2.8 billion, the company’s stock is now among the most actively traded in the U.S.

BitMine’s aggressive Ethereum strategy not only boosts its own position but also signals how fast traditional finance is starting to adopt blockchain and digital assets.