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BitMine’s $8.94B Ethereum Empire: Leading the Crypto Treasury Race

With a recent $44.6 million buy of 10,320 Ethereum, BitMine Immersion Technologies has cemented itself as the top Ethereum treasury business worldwide. ETH owns 2.069 million ETH worth $8.94 billion as of September 8, 2025. With $266 million in cash and 192 Bitcoin ($215 million), BitMine's total crypto and cash reserves of $9.21 billion make it the second-largest worldwide crypto treasury after MicroStrategy. This comes after Galaxy Digital's OTC desk carried out a record-breaking $358 million single-day ETH buy.

BitMine hopes to possess 5% of Ethereum's whole supply (about 6 million) under Chairman Tom Lee's "Alchemy of 5%." Having achieved 34.2% of this aim already, ETH. According to Lee, Ethereum's position as a primary settlement layer for Wall Street and AI systems could propel ETH values to $12,000 to $22,000. Backed by institutional heavyweights such ARK, Founders Fund, and Pantera, BitMine's aggressive accumulation has produced a 148% value gain in 30 days and unrealized profits of $1.9 billion.

BitMine's actions fit an institutional trend with more than 70 companies controlling 4.91 million ETH ($21.29 billion), or 4% of Ethereum's supply. Leading with 2.07 million ETH is BitMine, then SharpLink Gaming with 837,000 ETH, and The Ether Machine with 495,000 ETH. Its fast two-month ascent emphasizes its influence and control in the expanding Ethereum coffers industry.

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