BitMine Continues Its Ethereum Purchases, Leading Corporate Holdings
BitMine, a pioneering crypto player, is deepening its commitment to Ethereum. They’ve recently invested $46 million in ETH, solidifying their status as the top corporate Ethereum holder.
On august 24, per Lookonchain data, BitMine added 9,600 ETH to its growing stash. Their total holdings now stand at around 1.58 million ETH, or $7.5 billion. This trend started in July 2025, with an initial buy of half a billion dollars’ worth.
The firm’s chairman, Tom Lee, sees this as part of a grand plan. “Ethereum represents a major opportunity,” he says. “It may transform finance thanks to Wall Street and AI adopting blockchain.”
- BitMine aims to hold 5% of all Ethereum.
- Their belief underscores Ethereum’s role in financial and technological evolution.
This trend isn’t limited to BitMine. Corporate ETH reserves hit almost $20 billion, up from $17 billion just seven days earlier.BitMine owns the largest share at $7.5 billion. SharpLink and The Ether Machine follow closely.
Ethereum co-founder Vitalik Buterin warns of the risks. He fears some firms might borrow heavily against their ETH holdings—a risky move that could trigger a domino effect.
Despite these concerns, ETH prices surged above $4,900 on August 23 but couldn’t sustain the gains. Now trading at about $4,535,it sits 4.3% lower than yesterday.
