BitMine Immersion Technologies has made another major move in the crypto market, adding 46,255 Ethereum (ETH) worth $201 million to its ETH treasury. The data comes from blockchain analytics platform Onchain Lens, which cited Arkham in tracking the transaction.
According to Onchain Lens, BitMine received the funds from a BitGo wallet across three addresses. While one address was confirmed as BitMine’s, two others remain unmarked.
The analytics firm said it linked those addresses to BitMine through forensic analysis and its internal algorithmic tools. However, BitMine has not yet confirmed the purchase.
BitMine Targets 5% of Ethereum Supply
If the unmarked wallets are BitMine’s, then with these transactions, it now holds 2,126,018 ETH, valued at nearly $9.3 billion. This move also aligns with the company’s goal to control 5% of Ethereum’s total supply. For now, it is the world’s largest corporate holder of ETH.
Just two days earlier, BitMine had reported that its total Ethereum holdings reached 2.069 million tokens. The timing of this new inflow further strengthens its dominant position in the Ethereum treasury race.
BitMine is not only focusing on Ethereum. On Monday, it announced a $20 million strategic investment in Eightco Holdings (OCTO) as part of a $270 million PIPE deal.
This investment backs Eightco’s plan to make Worldcoin (WLD) its primary treasury asset, showing BitMine’s wider interest in shaping the future of digital asset treasuries.
Bitmine’s Stock on the Rise
The aggressive crypto approach of BitMine has also increased investor confidence. On Wednesday, shares of BitMine (BMNR) closed up 2.24% at $45.6 on the NYSE. Over the past six months, the stock has soared 500%, reflecting confidence in its treasury expansion and bold market moves.
Having its eyes on the Ethereum leadership, BitMine remains one of the most significant actors in the crypto treasury market.
Also Read: Eightco Adopts Worldcoin Treasury Reserve Stock Soars 1000%
