BitMine Immersion Technologies Inc. (BMNR) has made a major move in the crypto world by becoming the largest holder of Ethereum (ETH) in the world. The company now owns over 2.15 million ETH tokens, worth around $10 billion, making it a leading Ethereum treasury.

As of September 14, BitMine’s total crypto and cash assets reached $10.77 billion. This includes:

– 2,151,676 ETH
– 192 Bitcoins (BTC)
– $214 million in high-risk “moonshot” investments
– $569 million in cash that’s not tied up elsewhere

With these holdings, BitMine ranks as the second-largest crypto treasury globally—just behind Strategy Inc. (MSTR), which holds a massive $74 billion in Bitcoin.

Tom Lee, the Chairman of BitMine, said the company aims to eventually hold 5% of all ETH in circulation. He believes that larger ETH holders gain more long-term benefits due to something called the “power law”—basically, owning more gives you greater influence and returns.

This announcement comes at a time when investor interest in digital assets is on the rise. According to recent data from CoinShares:

– Crypto investment products saw $3.3 billion in inflows last week.
– Total assets under management are now $239 billion, close to the all-time high seen in August.
– Ethereum saw a strong rebound with $646 million in new investments after previously facing eight days of outflows.
– Bitcoin brought in $2.4 billion in weekly inflows.
– Solana (SOL) had its biggest single-day inflow ever—$145 million on Friday.

This renewed interest follows weaker-than-expected economic data in the U.S., leading investors back into digital assets as prices started climbing.

Looking ahead, BitMine is doubling down on Ethereum because it believes traditional finance and artificial intelligence (AI) are moving toward blockchain technology—and most of that innovation is happening on Ethereum.

“We believe Ethereum is one of the biggest long-term trades over the next 10 to 15 years,” Lee said. “As Wall Street and AI shift to blockchain, Ethereum will likely become the backbone of the new financial system.”

In related news, Forward Industries recently invested $1.58 billion in Solana, while Michael Saylor’s Strategy Inc. continues to grow its Bitcoin holdings—showing that big players are still betting big on crypto.