Top ETH treasury BitMine Immersion Technologies announced $365 million in new funding and revealed it now holds 2.416 million ETH — over 2% of the total supply.
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BitMine Immersion Technologies, a crypto treasury company focused on Bitcoin and Ether, says it controls more than 2% of Ether’s total supply after amassing 2.4 million ETH.
The company Monday that its Ether (ETH) holdings are valued at about $10.1 billion, making it the largest corporate ETH treasury worldwide. It also announced a fundraising initiative aimed at pushing its reserves even higher.
BitMine reported that it acquired ETH at an average price of nearly $4,500, about 7.25% above the current market price of $4,200.
According to Strategic ETH Reserve , BitMine is currently the world’s top corporate Ether treasury. SharpLink Gaming, an ETH treasury led by an Ethereum co-founder, takes the silver medal, with 838,150 ETH on its balance sheet.
BitMine’s total assets, combining equity, cash and crypto holdings, now stand at $11.4 billion. The portfolio places BitMine among the top crypto treasury companies, led by Strategy, with 639,835 Bitcoin () worth over $74 billion as of Monday.
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BitMine raises funds at a premium
BitMine Monday it sold about 5.22 million shares at $70 each, a 14% premium to its Sept. 19 closing price of $61.29, alongside 10.4 million warrants exercisable at $87.50. The deal raised roughly $365 million in immediate proceeds, with the warrants offering the potential for another $913 million if exercised in full.
BitMine Chairman Thomas Lee framed the premium pricing as a sign of institutional confidence, noting that the funds will be directed toward expanding the company’s Ether reserves.
“The convergence of both Wall Street moving onto the blockchain and AI/ agentic-AI creating a token economy is creating a supercycle for Ethereum,” Leed Monday.
The fundraising follows a ETH purchase earlier in September, when BitMine added 46,255 ETH to its balance sheet, shortly after disclosing another and supply on Sept. 2.
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Institutions are interested in crypto treasuries
BitMine is clearly attracting attention, with Cathie Wood’s earlier in September.
Recent reports also indicate that public companies are , further solidifying the idea that such propositions attract investor interest.
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