Corporate Treasury Giant BitMine Splurges $201M on ETH: Are They Becoming the Ethereum King?

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So, guess what? BitMine Immersion Technologies-yes, the corporate treasury titan-just splashed out an eye-watering $201 million on Ethereum. That’s 46,255 ETH, according to blockchain detective, Onchain Lens. 🕵️‍♀️

The whole thing went down via their trusty custodian, BitGo, and it’s been traced back to three wallets-one of which (surprise, surprise) is BitMine’s own corporate stash. No official “Hey, we did this” from the company yet, but…let’s be real, they’re obviously in it to win it when it comes to Ethereum. 🤑

ETH-Addicts Anonymous

So, let’s break this down: after this shopping spree, BitMine’s total ETH holdings now sit at a massive 2,126,018 ETH. That’s like $9.3 billion worth of crypto, folks. BitMine’s basically said, “We want 5% of all Ethereum ever,” and that’s a plan that could make them the undisputed corporate ETH overlord. Right now, they’re rocking a solid 1.5% of the circulating supply. 🍾

And here’s the kicker-no loans, no debt, no funny business. Just pure, unadulterated spot purchases. Because who needs to borrow when you’ve got that much cash laying around, right? 💰

Investments That Actually Make Sense

In case you thought they were only ETH-obsessed, think again. BitMine’s also been making some savvy investments on the side. They just dropped $20 million into a $270 million private placement for Eightco Holdings (OCTO). These guys are pivoting towards Worldcoin (WLD)-another cheeky crypto that’s trying to get into the “let’s get everyone on the crypto train” game. 🚂

It’s like they’ve got a crystal ball and they’re betting on the future of mass crypto adoption. So, don’t be shocked if BitMine’s influence grows like a snowball rolling downhill. 🎱

The Market’s Like, “We Love This”

The market’s not blind, folks. BitMine’s wild ETH buys have got everyone talking, and its shares (BMNR) surged by 2.24% on the NYSE, closing at $45.6. Over the past six months? They’ve gained a staggering 714%. That’s investor confidence for you. 📈

And before this $201 million ETH blowout, they went on a mini shopping spree, snapping up $65 million worth of ETH-six transactions through Galaxy Digital’s OTC desk. If that doesn’t scream “ETH dominance,” I don’t know what does. 😜

ETH is Getting Scarce, Like My Patience with Crypto Haters

Oh, and did you hear? Ethereum’s being gobbled up from centralized exchanges like candy on Halloween. The supply’s dropped by a hefty 38% since 2022, mainly thanks to corporate treasuries and ETFs hoarding the good stuff. So, yeah, the competition for ETH is getting fierce. 🔥

BitMine’s strategy of stacking ETH like it’s going out of style, combined with a few well-placed investments, is positioning them as one of the biggest players in the institutional Ethereum game. If they keep this up, we might just be bowing down to them in a few months. 👑

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2025-09-12 19:33