BitMine Immersion Establishes the Worldʼs Largest Ethereum Treasury, Surpassing $2.9 Billion in ETH Holdings In a display of financial agility and strategic ambition, BitMine Immersion Technologies NYSEAmerican: BMNR has amassed over 833,137 ETH, valued at more than $2.9 billion, as of August 3, 2025, establishing itself as the largest Ethereum treasury globally. Remarkably, this accumulation transpired within just five weeks of launching its ETH Treasury initiative on June 30, making BitMine now the third-largest crypto treasury worldwide, behind only MicroStrategy and Mara Blockchain. Thomas Lee, the companyʼs Board Chair, characterised the rapid portfolio expansion as “lightning speed,ˮ underscoring BitMineʼs distinct velocity in elevating its crypto net asset value per share amid robust stock liquidity. Bolstering its institutional credentials, veteran investment figure Bill Miller III has taken a significant stake in the firm, joining a roster of major backers that includes Cathie Woodʼs ARK, Founders Fund, Pantera, Kraken, DCG, and Galaxy Digital—all aligned behind BitMineʼs ambitious 5 percent Ethereum acquisition strategy.
Figure 15. BitMine Board Chair, Thomas Lee
Meanwhile, the companyʼs shares have emerged as among the most active, trading an average of $1.6 billion daily, ranking it as the 42nd most liquid equity—just behind Uber among US listings