Digital asset firm BitMine has solidified its position as the holder of the world’s largest Ethereum treasury after a significant recent acquisition pushed its holdings to 833,137 ETH, valued at approximately $2.9 billion.
This milestone achievement follows BitMine’s recent purchase of 208,137 ETH, worth around $757.5 million. The company has outlined ambitious plans to accumulate 5% of the entire Ethereum supply, a strategic move that would cement its status as the third-largest cryptocurrency treasury globally based on holdings.
BitMine’s aggressive accumulation strategy and substantial treasury are backed by prominent institutional investors including Bill Miller III, ARK Invest, Founders Fund, Pantera Capital, crypto exchange Kraken, Digital Currency Group (DCG), and Galaxy Digital.
Further enhancing its operational strategy, BitMine has announced plans to launch Ethereum staking services in the near future. This initiative is expected to generate a steady revenue stream and improve the company’s profitability.
Analysts view BitMine’s rapid ETH accumulation and significant institutional backing as a signal of increasing institutional interest in blockchain-based financial infrastructure.