BitMine Emerges as the Second Largest Corporate Crypto Treasury After Strategy BTC

In a decisive move that reshapes the crypto corporate treasury landscape, BitMine Immersion Technologies has rapidly expanded its Ethereum holdings, securing its position as the world’s second largest crypto treasury behind Strategy BTC.

A Billion-Dollar Ethereum Accumulation

Over the past week, BitMine added 373,110 ETH to its reserves—an acquisition worth approximately $1.7 billion. This purchase brings its total holdings to more than 1.52 million ETH, valued at $6.6 billion based on current prices. By crossing the symbolic threshold of 1% of Ethereum’s circulating supply, BitMine has established itself as a heavyweight force in the global crypto ecosystem.

Despite a 3.7% daily dip in its stock (BMNR), the company’s aggressive accumulation strategy continues to outperform Ethereum itself in the short term. The move highlights BitMine’s calculated push to position itself as a structuring influence in blockchain markets, at a time when institutional interest in Ethereum is intensifying.

Strategic Vision Beyond Accumulation

For BitMine, this is more than just treasury growth—it represents a macroeconomic bet on the future of digital assets. Tom Lee, BitMine’s chairman and Chief Investment Officer at Fundstrat, compared the investment environment to the seismic 1971 decision by the United States to end the Bretton Woods system. He described Ethereum’s role in financial services as “the biggest macroeconomic bet of the next 10 to 15 years.”

To fuel this vision, BitMine recently announced a $20 billion stock offering dedicated to future Ethereum acquisitions. The company’s ambition is to secure up to 5% of Ethereum’s total supply, signaling an unprecedented long-term commitment to the asset.

A Shift in Corporate Treasury Management

BitMine’s move comes as Ethereum ETFs gain traction and institutional demand surges. With major players like SharpLink Gaming also entering the market, the landscape of corporate crypto treasuries is shifting from passive holding to proactive, strategic accumulation.

This aggressive strategy may inspire other listed firms to diversify their balance sheets with Ethereum, potentially leading to greater supply concentration and new questions about governance and liquidity. For now, BitMine’s bold bet underscores Ethereum’s growing systemic importance in the digital economy and sets a new standard for corporate treasury management in the blockchain era.