BitMine bought roughly $300 million in ether this week, taking its corporate holdings past the 4 million ETH mark and reinforcing its role as a major institutional holder of Ethereum. The purchase and the resulting treasury position have immediate implications for the company’s market profile and raise questions about concentration and funding strategy. The move places the company’s actions within the broader context of large-scale corporate digital-asset holdings.
BitMine completed a purchase of 98.852 ETH tokens, a transaction valued at about $300 million. The company’s reserves totalled 4.066.062 ETH, equivalent to roughly 3.37% of the total ETH supply, and the firm’s combined crypto and cash holdings are reported at about $13.2 billion. In this context, a corporate “treasury” refers to a firm’s stock of digital assets and cash held to support corporate strategy and balance-sheet exposure.
The accumulation cements BitMine’s position as the largest corporate holder of Ethereum and the second-largest crypto treasury overall, trailing only MicroStrategy. This standing underscores the scale and visibility of BitMine’s balance-sheet exposure to Ethereum.
BitMine has described its approach as an aggressive “buy-the-dip” accumulation strategy and is targeting a larger stake equivalent to 5% of the total ETH supply. The firm’s purchases have in past instances correlated with upward moves in its share price after large ETH additions, making the company a visible proxy for Ethereum exposure.
BitMine purchase details and holdings
However, the strategy concentrates risk in a single asset class and exposes shareholders to crypto market volatility and potential unrealized losses during downturns. Short-seller scrutiny has focused on the company’s capital-markets activities, including share issuances used to fund acquisitions. An upcoming shareholder vote to increase authorized shares from 500 million to 50 billion has attracted attention and is part of the debate over financing these purchases.
The milestone also affects investor perception more broadly: BitMine’s stock has shown a tendency to mirror Ethereum price action, amplifying the company’s sensitivity to ETH moves. At the same time, the size of the treasury places BitMine among the most prominent corporate participants in the shift toward large-scale corporate digital-asset holdings, a trend that is reshaping parts of traditional finance.
BitMine’s $300 million ether buy pushed its reserves above 4.066.062 ETH and highlighted both the scale of its conviction in Ethereum and the concentration risks implicit in single-asset treasuries.
