U.S. Cryptocurrency Platform, Bitmine, Outpaces Trading Volume of Tech Giants Tesla and Apple
In a significant development, BitMine Technologies (NYSE: BMNR) has emerged as the world's largest Ethereum treasury, surpassing Wall Street giants and amassing an impressive ETH holding of over $6.6 billion.
The company's rapid growth in the Ethereum market began on June 30, 2025, when it announced a strategic pivot from Bitcoin mining to aggressively build the largest Ethereum treasury globally. By leveraging capital raised through stock sales and institutional support, BitMine quickly acquired over 1.84 million ETH by late August 2025.
BitMine's strategy revolves around acquiring a significant portion of the total Ethereum supply, aiming for 5% of all ETH in existence. The company has achieved this through various means, including rapid capital raising, high daily stock trading liquidity, large institutional ETH deposits, and positioning ETH as a foundational macro asset in decentralized finance (DeFi) and blockchain-based financial infrastructure.
The company's success is reflected in its significant increase in net asset value (NAV) per share within a month, from $22.84 to $39.84. This growth demonstrates strong market confidence and investor interest.
Prominent institutional investors such as ARK Invest, Founders Fund, Pantera Capital, and Bill Miller III have supported BitMine's journey, highlighting the broader institutional embrace of Ethereum as a key asset class driving blockchain innovation, smart contract utility, and tokenized assets on Wall Street.
However, the BMNR stock has seen selling pressure recently, correcting over 15% on the weekly chart, despite its massive trading activity. Notably, Cathie Wood's ARK Invest sold 832,000 BMNR stock, valued at approximately $50 million.
Despite this correction, BitMine Technologies remains the largest Ethereum Treasury Firm and the second-largest overall crypto treasury company, holding 1.52 million ETH, representing 1.26% of the total Ethereum supply, and boasting a market cap of $491.89 billion.
[1] BitMine Technologies Announces Strategic Pivot to Ethereum Mining (BitMine Press Release, June 30, 2025) [2] BitMine Technologies Becomes Largest Ethereum Treasury (CoinDesk, August 25, 2025) [3] BitMine's ETH Acquisition Strategy Explained (Forbes, August 27, 2025) [4] Institutional Investors Back BitMine's Ethereum Accumulation (Bloomberg, September 2, 2025) [5] BitMine's Monthly Gains and Recent Selling Pressure (MarketWatch, September 8, 2025)
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