Following the price surge of Ethereum above $3,400, BitMine Immersion Technologies announced that its ETH holdings have exceeded $1 billion.
The company revealed the valuation of its Ethereum holdings in a press release today. According to the announcement, BitMine holds 300,657 ETH as of July 17, 2025. With Ethereum’s price hitting $3,461.89 today, BitMine’s Ethereum holdings surpassed a valuation of $1 billion.
BitMine Grows Its ETH Stash with $250M Fundraiser
The incredible milestone comes within a week of BitMine closing a private placement on July 8, raising $250 million from prominent investors. MOZAYYX led the private placement, with other investors, including FalconX, Pantera, Kraken, and Founders Fund, participating in the transaction.
Interestingly, BitMine channeled the funds into purchasing additional Ethereum, eventually growing its holdings to 300,657 ETH. This move has proven advantageous as the holdings exceeded $1 billion following the surge in ETH’s price.
At press time, Ethereum was trading at $3,415, meaning that BitMine’s ETH portfolio of 300,657 ETH is worth $1.026 billion.
BitMine to Acquire and Stake 5% of Ethereum Supply
BitMine’s executive chairman, Thomas Lee, commented on the development, emphasizing the company’s commitment to growing its Ethereum holdings.
According to him, the goal is to amass and stake 5% of Ethereum’s overall supply, which is currently equivalent to 6,035,676 (6.03 million) ETH. For context, Lee has been a major proponent of Ethereum, which he believes could become the next Bitcoin.
Meanwhile, as a NYSE-listed company, BitMine commits to growing the amount of ETH backing each share by leveraging multiple strategies. These include earning rewards on its staked ETH, reinvesting the company’s cash flow into ETH, and taking advantage of price swings to lower its overall Ethereum acquisition cost.
Commenting on the development, BitMine’s CEO, Jonathan Bates, suggested that the recent milestone underscores the company’s long-term commitment to Ethereum’s prospects.
“We are committed to Ethereum’s continued growth and look forward to advancing our Ethereum treasury strategy,” Bates noted.
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