BitMine adds 23,823 ETH worth $103.7M to its treasury, reinforcing its position as the largest corporate Ethereum holder.
BitMine has added 23,823 ETH to its treasury, valued at $103.7 million, reinforcing its position as the largest corporate ETH holder. This purchase increases the company’s total Ethereum holdings to 2.83 million ETH, worth approximately $12.4 billion.
The move demonstrates BitMine’s continued commitment to ETH, even in a market facing volatility.
BitMine’s Latest Ethereum Acquisition
On Thursday, BitMine Immersion Technologies (BMNR) acquired a significant amount of Ethereum.
The transaction involved 23,823 ETH, valued at $103.7 million. According to Arkham and Lookonchain, the ETH was transferred from a BitGo wallet linked to the address “0xF8c…338E7.”
Bitmine keeps accumulating $ETH — 5 hours ago, they received another 23,823 $ETH($103.68M) from BitGo.https://t.co/DLOO6fgc7Khttps://t.co/w5uTBr9jZg pic.twitter.com/nScuFMDf5X
— Lookonchain (@lookonchain) October 10, 2025
While BitMine has not officially confirmed the acquisition, the data points to an important addition to its reserves. This move solidifies BitMine’s role as a leading corporate holder of Ethereum. The company now holds a total of 2.83 million ETH, reinforcing its significant stake in the Ethereum ecosystem.
BitMine’s Long-Term Strategy with ETH
BitMine’s acquisition aligns with its long-term strategy to accumulate a significant portion of ETH’s total supply. The company aims to hold 5% of Ethereum’s circulating supply.
This ambitious goal shows its belief in Ethereum’s future potential, especially as the asset continues to grow within the decentralized finance space.
Ethereum and Bitmine are directly linked since $BMNR is a DAT company.
That’s why you’re seeing big swings like these.
I would love to see more diversification of their portfolio and I think it’ll likely happen over time.
The aim for $BMNR is to acquire 5% of $ETH, but I do… pic.twitter.com/2jqtBmePYx
— Cole Grinde (@GrindeOptions) October 9, 2025
By holding a large amount of Ethereum, BitMine positions itself as a key institutional player. The company is part of a broader trend where institutional investors are looking to increase their exposure to Ethereum.
As ETH expands its use in financial applications, BitMine’s strategy could help it take advantage of this growth.
Market Performance and Ethereum Price Decline
Despite BitMine’s ongoing accumulation of Ethereum, the broader market is facing challenges.
Ethereum’s price has recently declined to $4,384, down 1.4% in the past 24 hours. This reflects the overall market downturn, where many cryptocurrencies are struggling to maintain their value.
BitMine’s stock, BMNR, also experienced a slight decline, dropping by 1.5%. The stock closed at $59.10 on Thursday. These market fluctuations highlight the unpredictable nature of the cryptocurrency space, where prices can shift rapidly despite institutional investments.
BitMine’s commitment to ETH, however, remains strong. The company continues to acquire more ETH, signaling confidence in the asset’s future growth. Even with market fluctuations, BitMine’s strategy shows a long-term view on Ethereum’s potential in the global financial ecosystem.
Recent BitMine ETH acquisition underscores its ongoing support for Ethereum. As one of the largest holders of ETH, the company is positioning itself for future opportunities. Ethereum’s growing role in decentralized finance and blockchain-based services continues to make it a key asset for institutional investors.
