Investment firm BitMine has established itself as the largest public holder of Ethereum, amassing 566,776 ETH valued at approximately $2 billion. This positions BitMine above entities including the Ethereum Foundation and publicly listed exchanges, with tokens acquired at an average price of $3,643 per ETH.
Ark Invest has significantly bolstered BitMine’s growth, committing over $170 million in strategic funding. CEO Cathie Wood publicly endorsed BitMine’s disruptive potential within decentralized finance ecosystems, highlighting institutional confidence in its model.
BitMine’s NYSE-listed shares (BMNR) surged 7% to $42 following its announcement of options trading for BMNR, enhancing liquidity and attracting sophisticated investors. The firm concurrently unveiled ambitious plans to acquire 5% of Ethereum’s circulating supply, signaling a transformative approach to managing on-chain assets.
Through Ethereum staking initiatives, BitMine actively contributes to network security while bridging decentralized protocols with regulated capital markets. The company frames its treasury strategy as blending traditional finance mechanisms with blockchain-native asset management.