tl;dr
Tom Lee’s BitMine Immersion Technologies has become the world's second-largest crypto treasury, holding 1.52 million Ether (ETH) worth about $6.6 billion, surpassing MARA's Bitcoin holdings. BitMine increased its ETH by 373,110 coins last week, adding $1.7 billion in value. The firm's strategy align...
Tom Lee’s BitMine Immersion Technologies has surged to become the world’s second-largest crypto treasury, trailing only Michael Saylor’s Strategy. The company now holds 1.52 million Ether (ETH), valued at approximately $6.6 billion. Despite a recent pullback in Ether’s price, this stash still surpasses the $5.88 billion in Bitcoin held by MARA. BitMine increased its ETH holdings by 373,110 coins just in the past week, boosting its portfolio’s value by $1.7 billion.
BitMine’s aggressive accumulation strategy reflects growing institutional interest, with Fundstrat’s Tom Lee highlighting their pursuit of the “alchemy of 5%” in ETH. Lee pointed to Ethereum as a massive macro trade over the next decade-plus, emphasizing the transformative potential of Wall Street and artificial intelligence migrating to blockchain technology, predominantly on Ethereum’s platform.
Ethereum’s network dominance in tokenized real-world assets remains strong, commanding over 55% market share—including stablecoins—according to RWA.xyz. BitMine itself holds a commanding 37% dominance within the Ethereum treasury sector, which totals $17.6 billion and comprises more than 4 million ETH accumulated by corporations. The firm aims to grow its Ether treasury to $20 billion.
Highlighting market innovation, BTCS Inc. became the first publicly traded company to issue dividends in ETH this week, signaling broader acceptance of Ethereum’s utility. However, Ether's price has recently retreated amid broader crypto market corrections. After bouncing off a low of $4,250, ETH failed to push above $4,380 and dropped back below $4,300 during Asian trading. With a 10% correction from its 2025 peak, Ethereum sits at key support levels; a further breakdown could see prices fall below $4,000.