tl;dr
BitMine Immersion Technologies has accumulated 179,251 ETH, making it the largest Ethereum treasury firm with $13.23 billion in holdings. The move signals rising institutional confidence in Ethereum's role as a cornerstone of blockchain and AI innovation.
**BitMine Accumulates Over 179,000 ETH, Becomes Largest Ethereum Treasury Firm**
In a significant move that underscores Ethereum’s growing dominance in the crypto ecosystem, BitMine Immersion Technologies—the world’s largest Ethereum treasury firm—has added **179,251 ETH** to its reserves in the past week. This brings the firm’s total holdings to **2,830,151 ETH**, valued at over **$13.23 billion** as of writing. The accumulation highlights the increasing institutional confidence in Ethereum as a cornerstone of the blockchain and AI-driven financial future.
### A Growing Ethereum Powerhouse
BitMine, led by renowned analyst Tom Lee of Fundstrat, has solidified its position as a major player in the crypto treasury space. Beyond its vast ETH reserves, the firm holds **192 Bitcoin (BTC)**, **$456 million in unencumbered cash**, and a **$113 million stake in Eightco Holdings (ORBS)**, a crypto treasury company that Lee describes as one of BitMine’s “moonshots.” This strategic investment aligns with BitMine’s broader vision of supporting Ethereum ecosystem projects poised for long-term growth.
Eightco Holdings recently announced plans to raise **$270 million** to fund a treasury strategy focused on **Sam Altman’s Worldcoin (WLD)**, an Ethereum-based cryptocurrency designed to bridge the gap between digital identity and financial inclusion. BitMine’s stake in Eightco reflects its commitment to backing innovative projects that could reshape the future of finance.
### The 5% ETH Supply Target
BitMine currently owns **over 2.3% of the total ETH supply**, a figure that Lee has called the “alchemy of 5%”—a target the firm aims to achieve. This ambitious goal underscores the firm’s belief in Ethereum’s long-term value proposition. Lee emphasized that Ethereum’s role as a platform for Wall Street and AI integration is driving institutional interest.
“The BitMine team sat down with Ethereum core developers and key ecosystem players, and it is clear the community is focused on enabling Wall Street and AI to build the future on Ethereum,” Lee stated. “We remain confident that the two Supercycle investing narratives remain AI and crypto. Naturally, Ethereum remains the premier choice given its high reliability and 100% uptime.”
### Why Ethereum?
Lee’s comments highlight Ethereum’s unique position as the preferred blockchain for institutional and technological innovation. With its robust infrastructure, developer ecosystem, and increasing adoption by enterprises, Ethereum is seen as the backbone for next-generation applications. Lee argues that ETH’s current price reflects a discount to its future potential, making it an attractive asset for long-term holders.
“Since ETH’s price is a discount to the future, this bodes well for the token,” Lee said. “It is the reason BitMine’s primary treasury asset is ETH.”
### The Bigger Picture
BitMine’s aggressive accumulation of ETH and strategic investments in projects like Eightco and Worldcoin signal a broader shift in the crypto market. As AI and blockchain technologies converge, Ethereum’s role as a foundational layer for innovation is becoming increasingly critical. With institutional players like BitMine betting big on the network, the stage is set for Ethereum to dominate the next phase of the crypto revolution.
For now, the numbers speak for themselves: a firm with over $13 billion in ETH holdings, a clear vision for the future, and a belief in Ethereum’s enduring legacy. As Lee put it, “These two powerful macro cycles will play out over decades.” And with BitMine leading the charge, the Ethereum ecosystem is poised to benefit immensely.