BitMine buys 82,353 Ethereum tokens as holdings reach 3.4 million.
\nCrypto and cash treasury stands at $13.7 billion.
\nBitMine hits 2.8% of the targeted 5% of the Ethereum supply.<\/p>\n
BitMine Immersion Technologies, a leader in cryptocurrency mining and advanced cooling solutions, has significantly bolstered its position in the digital asset space.<\/p>\n
The company has revealed<\/a> a substantial increase in its Ethereum (ETH) reserves.<\/p>\n BitMine\u2019s increasing commitment to Ethereum is again evident following another buy-the-dip move.<\/p>\n Despite price declines, the publicly-listed company has bumped up its holdings to become the world\u2019s second-largest corporate treasury strategy.<\/p>\n Thomas Lee of Fundstrat, and chairman of BitMine, noted:<\/p>\n \u201cWe increased our cash holdings to $389 million (from $305 million) and acquired 82,353 ETH tokens over the past week pushing our ETH holdings to 3.4 million, or 2.8% of the supply of ETH. We are now more than halfway towards our initial pursuit of the \u2018alchemy of 5%\u2019 of ETH.\u201d<\/p>\n BitMine now owns 2.8% of the ETH supply, a milestone that sees the company surpass the halfway mark of the targeted 5%.<\/p>\n BitMine has amassed its ETH holdings strategically over the past several months, capitalising on ETH\u2019s low price and growing ecosystem.<\/p>\n When combined with its Bitcoin reserves of 192 BTC valued at $62 million, and cash of $389 million, BitMine\u2019s overall crypto and cash holdings have surged to $13.7 billion.<\/p>\n BitMine is among a growing number of publicly listed firms shifting away from their traditional operations, including cryptocurrency mining, as they diversify in response to broader digital asset adoption.<\/p>\n Wall Street has seen a marked increase in such pivots, with several companies aiming to emulate the approach that established Strategy as the world\u2019s leading corporate crypto treasury.<\/p>\n Analysts note that BitMine\u2019s move, along with similar strategies by peers, reflects rising institutional interest in the sector.<\/p>\n The approval of Ethereum exchange-traded funds in 2024 has drawn billions of dollars into the asset, while corporate treasury strategies \u2014 particularly those involving staking in tokens like ETH and SOL \u2014 have emerged as the next phase in the digital asset expansion.<\/p>\n BitMine\u2019s milestone reinforces Ethereum\u2019s enduring appeal, potentially setting a benchmark for peer firms eyeing similar diversification.<\/p>\n And Lee says the recent price dip offered a reset that could prove key for the Ethereum price.<\/p>\n \u201cCrypto suffered its largest ever liquidation event on October 10th, and open interest on ETH (per coinalyze.net fell -45% in the past 8 weeks (the largest ever decline in the history of ETH). This reset is healthy and sets the stage for price and fundamentals to eventually converge,\u201d Lee stated.<\/p>\n Ethereum\u2019s price hovered at $3,622 on November 3, 2025, down 6% in the past 24 hours and 14% in the past week.<\/p>\n The post BitMine doubles down on Ethereum as ETH holdings hit 3.4 million<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" BitMine buys 82,353 Ethereum tokens as holdings reach 3.4 million. Crypto and cash treasury stands at $13.7 billion. BitMine hits 2.8% of the targeted 5% of the Ethereum supply. BitMine Immersion Technologies, a leader in cryptocurrency mining and advanced cooling solutions, has significantly bolstered its position in the digital asset space. The company has revealed […]<\/p>\n","protected":false},"author":0,"featured_media":5319,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[100],"tags":[],"class_list":{"0":"post-5318","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ethereum"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/5318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=5318"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/5318\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/5319"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=5318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=5318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=5318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BitMine ETH holdings hit 3.4 million<\/h2>\n
Interest in ETH is growing<\/h2>\n