BitMine Acquires $2 Billion in Ether in 16 Days to Become Top Corporate Holder

In a daring move that has surprised the crypto space, Bitcoin (BTC) mining company BitMine Immersion Technologies has purchased over $2 billion worth of Ether (ETH). The company made this purchase in just 16 days, making it the largest corporate holder of ETH. According to the released statement, the company acquired a total of 566,776 Ether that are valued at more than $2.03 billion.

BitMine has been acquiring ETH since mid-July. This aggressive accumulation is part of the company's ambitious goal to acquire and stake 5% of Ethereum’s total supply.

BitMine Becomes The Largest Corporate Holder of ETH

Tom Lee, managing partner of FundStrat and chairman of BitMine, confirmed the firm's long-term vision. He said, “We are well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply.”

Currently, that 5% figure equates to approximately 6 million Ether, worth around $22 billion. If achieved, BitMine’s ETH holdings would surpass even those of Michael Saylor’s Strategy, which owns 607,770 Bitcoin, about 2.9% of Bitcoin’s fixed 21 million coin supply.

This latest spree also sees BitMine overtake SharpLink Gaming to reclaim the top spot among strategic Ether reserves. SharpLink, which recently purchased 79,949 ETH to bring its holdings to 360,807 ETH (worth approximately $1.3 billion), now trails BitMine in the ongoing corporate treasury arms race.

The surge in Ether acquisitions has ignited investor enthusiasm. BitMine’s stock (BMNR) exploded over 3,000% following its ETH treasury announcement, hitting a record $135 on July 3. SharpLink Gaming also saw its shares jump 171% to $79.21 after its May 27 pivot to Ether.

As of now, data from Strategic Ether Reserves shows that 61 corporate and institutional entities hold a combined 2.31 million ETH, representing 1.91% of Ethereum’s circulating supply and valued at roughly $8.46 billion.

While Ethereum’s supply is elastic due to its burn mechanism, BitMine’s quest to capture a 5% share marks one of the most aggressive treasury strategies in the crypto space to date.

In comparison, Bitcoin corporate holdings remain more concentrated. According to Bitbo data, over 206 firms collectively hold more than 3.4 million BTC, representing 16.5% of its capped supply and worth over $408 billion.

BitMine’s maneuver signals a rising institutional shift from Bitcoin toward Ethereum, driven by its staking potential and broader utility in decentralized finance.