BitMine increases the position against the trend to become the second largest encryption reserve giant! Holding 1.52 million ETH valued at 6.6 billion USD, targeting 5% of the total supply of Ethereum.

On-chain asset reserve company BitMine (stock code: BMNR) has been continuously increasing its holdings in Ether. In the past few days, after purchasing, its total ETH reserve value has surpassed $6.6 billion (approximately 1.52 million coins), exceeding MARA Holdings' $5.9 billion Bitcoin holdings, making it the second-largest corporate cryptocurrency asset reserve institution in the world. Founder Tom Lee stated the goal is to lock in 5% of the total supply of Ether, emphasizing that "ETH is the largest macro trading target for the next 10-15 years," and is optimistic that the Wall Street and AI on-chain wave will transform Ether into a core infrastructure for financial on-chain operations. BMNR's stock price is currently reported at $55.49, with a single-day trading volume of $42.43 million, ranking among the top 15 in U.S. stock trading.

Aggressively increasing ETH holdings, BitMine leaps to the on-chain reserves runner-up

BitMine (BMNR) has continued to increase its holdings of Ethereum amid recent market fluctuations, not stopping its buying even after experiencing local peaks and pullbacks. In just a few weeks, its ETH reserves have grown from 1.2 million coins to 1.52 million coins, estimated to be worth $6.6 billion at current prices. This move has allowed it to surpass MARA Holdings, which holds $5.9 billion in BTC, becoming the second largest corporate holder of cryptocurrency assets globally, just behind MicroStrategy (now Strategy Inc). Founder Tom Lee publicly announced this achievement and revealed a grander goal: to acquire 5% of the total supply of Ethereum (currently about 120 million coins, which is 6 million coins). If ETH enters a higher price range, its reserve value potential will be further released.

Staking financial on-chain, Ethereum is regarded as the core infrastructure

Lee explained his strategic logic: "We continue to believe that Ethereum is the most important macro trading target for the next 10-15 years... The combination of Wall Street and AI on-chain will trigger a profound transformation of today's financial system, and most of the changes are happening on Ethereum." BitMine bets on Ethereum as a core channel for financial on-chainization, particularly valuing its leading position in on-chain experiments such as the tokenization of real-world assets (RWA). Currently, BitMine holds ETH in the form of freely tradable tokens, but it plans to obtain passive income in the future through on-chain staking, lending, and other strategies. Its large ETH reserves aim to promote network adoption and expand core scenarios such as stablecoins and on-chain lending.

Reserve transparency sets the benchmark, BMNR trading heat surges

BitMine's on-chain asset reserves are known for their high transparency: 1.17 million ETH are stored in publicly verifiable wallet addresses, with new purchases primarily completed through over-the-counter trading platforms such as Galaxy Digital. The company deliberately publicizes its ETH purchasing activities and releases extremely bullish signals, creating a unique market influence. Apart from ETH, BitMine's balance sheet still holds 154-192 BTC (varying by different sources). In the Ethereum corporate holdings ranking, BitMine occupies an absolute weight with 1.52 million ETH (accounting for 41% of the known total corporate holdings of 3.7 million), but still lags behind the 6.5 million ETH held by spot ETFs and the leading on-chain protocols accumulated over the years. The capital market reacted enthusiastically: Although BMNR's stock price has pulled back from a high of $135 to $55.49, it remains firmly in the median range thanks to an aggressive strategy of continuous large purchases over six weeks. On August 18, it entered the top 15 in US stock trading volume with a volume of $42.43 million, second only to MARA. Popular trading stocks such as Riot Platforms and TeraWulf, which are also mining companies and on-chain asset reserve concepts, demonstrate that this narrative still holds strong appeal. In contrast, competitor SharpLink Gaming (SBET) has not made any new purchases since August 10, with its stock price stagnating at $20.52, highlighting the aggressiveness of BitMine's strategy.

Conclusion

BitMine leaps to the second place in the corporate coin holding ranking with a $6.6 billion ETH reserve, marking a shift in the landscape of on-chain asset allocation. Its publicly transparent coin holding strategy and aggressive goal of "acquiring 5% of Ethereum's supply" redefine the paradigm of enterprise-level on-chain treasury management. If Wall Street and the AI on-chain wave advance as expected, BitMine's massive ETH reserve could become a super carrier for capturing the on-chain dividend of Ethereum's financialization. However, whether its stock price can return to high levels still depends on the market's reshaping process of the valuation logic for "corporate holding ETH."