BitMine Just Made a Huge Ethereum Move — Now Holds Over $13 Billion in ETH

BitMine Immersion Technologies, a major player in the crypto world, has made another big bet on Ethereum. The company recently bought 179,251 ETH — worth about $823 million — boosting its total Ethereum holdings to a massive 2.83 million ETH. At today’s prices, that’s around $13 billion, making BitMine the largest corporate holder of Ethereum in the world.

They managed to buy the ETH at an average price of $4,535, which is slightly below the current market price of around $4,625. This suggests that BitMine timed its move during recent price swings to get the best deal possible.

With this latest purchase, BitMine has pulled ahead of other companies that hold Ethereum. Its closest competitor, SharpLink Gaming, holds just under $4 billion in ETH. While Bitcoin remains king in terms of overall corporate holdings — with Strategy holding around $80 billion in BTC — BitMine clearly dominates when it comes to Ethereum.

But BitMine isn’t only focused on ETH. The company also owns 192 Bitcoin, valued at nearly $24 million. On top of that, it holds $113 million in shares of Eightco Holdings and keeps $456 million in cash. After announcing the Ethereum buy, BitMine’s stock (BMNR) jumped more than 5% to $59.78. That continues a strong upward trend for the company’s stock, which is up 37% over the past month.

Chairman Tom Lee says this move fits into BitMine’s bigger vision for the future. He shared that conversations at Token2049 Singapore made it clear that Ethereum will play a key role in connecting finance and artificial intelligence (AI). “It’s becoming increasingly clear that the next big thing is the convergence of AI and crypto,” Lee said.

By investing heavily in Ethereum now, BitMine is placing itself right at the center of what many believe will be the next major tech revolution — where blockchain and AI come together to transform industries. This could pave the way for more big institutions to follow suit and invest in crypto as these technologies continue to evolve.