Bitmine Expands Portfolio with $358 Million Ethereum Purchase

Jimmy Aki
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On September 4, Arkham data revealed that Bitmine, the largest corporate holder of Ethereum, made an additional acquisition of 80,325 ETH valued at $358 million. The purchase was split between 14,665 ETH obtained from Galaxy Digital and more than 65,000 ETH transferred from FalconX.

With this latest move, Bitmine’s total Ether treasury has grown to 1,947,299 ETH, carrying an estimated market value of $8.69 billion.

https://twitter.com/EmberCN/status/1963422486344994931

Bitmine’s Ethereum Strategy Echoes Saylor’s Bitcoin Moves

In June 2025, BitMine Immersion Technologies shifted its focus from Bitcoin mining to placing Ethereum at the center of its balance sheet.

BitMine has purchased nearly 2 million ETH, which equals approximately 1.55% of the entire circulating supply.

In August, BitMine acquired 373,000 ETH. It followed this up with another 150,000 ETH. The most recent additions included 80,325 ETH from Galaxy Digital and FalconX.

The company has also made its intentions clear, with the plan to control 5% of Ethereum’s total supply and plans to generate long-term returns by staking its tokens.

This approach is similar to the Bitcoin strategy of Strategy, championed by the company’s chairman and Bitcoin evangelist, Michael Saylor.

He made his company the largest corporate holder of Bitcoin by treating it as a digital treasury asset rather than a trade.

BitMine and Strategy share a belief that digital assets are safer long-term bets than idle cash. Notably, Strategy continues to add more Bitcoin, with the recent acquisition of 4,048 BTC (valued at $449.3 million) on September 2.

https://twitter.com/saylor/status/1962849375824040406

Together, these firms represent the institutional face of crypto accumulation. As Strategy stands as the leading Bitcoin corporate holder, BitMine now takes that same role for Ethereum.

Is Ether Treasury the Catalyst for a $5,000 Price Breakout?

The rise of Ether treasuries is not limited to BitMine. Other companies are following the same path.

On July 17, Nasdaq-listed BTC Digital abandoned its Bitcoin-focused model and revealed that all of its current and future holdings would now be converted into Ethereum.

Fundamental Global also filed a $5 billion shelf registration with the U.S. Securities and Exchange Commission. Its goal is to establish a large Ether treasury of its own.

SharpLink Gaming also entered the race. It disclosed a $200 million stock sale to expand its Ether treasury. The company already holds 837,230 ETH, valued at $3.6 billion, which ranks it as the second-largest holder after BitMine.

Ethereum co-founder Vitalik Buterin has welcomed this trend as he explained in a podcast that corporate adoption strengthens Ethereum’s reach.

His view is based on the premise that these Ether treasuries give more investors a chance to gain exposure to ETH and build its role in global finance.

The price performance backs up this confidence. Ethereum has climbed to $4,365, marking a 19% rise in the last month and an 83.66% gain over the past year.

CoinShares also reports that ETH exchange-traded funds now manage $37.9 billion in assets.

These signals show that institutional support continues to build momentum. With corporate treasuries expanding, ETFs drawing inflows, and Ethereum adoption rising, analysts believe the coin could soon test the $5,000 level for the first time.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.