BitMine buys another $200 million in Ethereum – ETH rises
- BitMine Immersion Technologies purchased $200 million worth of Ether on Wednesday. With the transaction, the company increased its holdings to more than 2.1 million ETH. The value of these reserves now amounts to approximately $9.2 billion.
- The purchases were made through three transactions processed through the crypto service provider Bitgo. This further extends BitMine's lead as the largest Ethereum treasury holder.
- The company had already acquired 202,500 Ether at the beginning of the week. This marks one of the largest ETH gains in a few days ever announced by a publicly listed company.
- By comparison, the second-place company, Sharplink Gaming, currently holds around 837,000 ETH ($3.7 billion), more than double BitMine's holdings.
- With these recent purchases, BitMine joins a trend that highlights the strategic accumulation of Ethereum reserves by institutional investors. Previously known primarily for its mining activities, the company has significantly expanded its treasury strategy in recent months.
- According to the company, the purchases were financed through profits from ongoing operations.
- Find out which are the five largest Ethereum treasuries and how investors can indirectly invest in ETH with leverage here: These are the 5 largest Ethereum treasuries in 2025
- The Ether price reacted with a three percent increase. The second-largest cryptocurrency is currently trading at $4,450. More on today's market performance here: Altcoin Season Has Begun – Crypto Market Rises Ahead of Fed Meeting
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Sources
Transaction details | Lookonchain on X
