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Lido Staked Ether 
Cardano 
Avalanche 
Key Points:
• BitMine now holds over 3 million Ethereum, worth about $12.6 billion.
• The company controls around 2.5% of Ethereum’s total circulating supply.
• BitMine plans to acquire 5% of Ethereum’s supply in the future.
• Institutional investors are backing BitMine’s strategy for blockchain-based growth.
BitMine’s Ethereum holdings are now above 3 million ETH after another large weekly purchase.
This move puts the company far ahead of its competitors in Ethereum treasury holdings and strengthens its role as a key institutional player in the crypto market.
The total value of BitMine’s holdings, including crypto and cash, now stands near $13 billion. According to data from The Block, the company owns about 2.5% of Ethereum’s circulating supply, showing clear confidence in the blockchain’s long-term value.
From my perspective, this aggressive acquisition is a strong signal that institutional investors are beginning to view Ethereum as a strategic asset, similar to how Bitcoin has been treated in past cycles.
BitMine expands its Ethereum dominance
BitMine purchased an additional 202,037 ETH since its last update on October 6. At current prices, this acquisition is worth around $839 million. The firm’s total holdings now reach 3.03 million ETH, confirming its position as the largest Ethereum treasury company.
The next closest competitor, Joe Lubin’s SharpLink, holds around 838,000 ETH. The Ether Machine follows with about 496,000 ETH. BitMine’s holdings are more than triple either of those, underlining its dominance in the blockchain investment space.
The company also holds 192 BTC valued at $22 million, $135 million in equity from WLD treasury firm Eightco, and $104 million in cash. Altogether, these holdings make BitMine one of the largest diversified treasury holders in the crypto market.
BitMine’s Ethereum holdings lead global blockchain treasuries
The company ranks as the second-largest public crypto treasury firm overall, trailing only Michael Saylor’s Strategy, which owns 640,250 BTC worth about $73 billion. Strategy controls over 3% of Bitcoin’s total supply, while BitMine targets acquiring 5% of Ethereum’s circulating supply — roughly 6 million ETH.
This ambition indicates BitMine’s focus on scaling its influence within the Ethereum ecosystem. Supported by institutional investors like Ark Invest, Founders Fund, Bill Miller III, and Galaxy Digital, BitMine’s strategy aligns with the broader shift toward blockchain asset accumulation among major financial institutions.
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Buying opportunity in a volatile crypto market
BitMine’s latest acquisition followed an 11.5% decline in Ethereum’s price due to global market fears, particularly around U.S.-China trade tensions. Traders went risk-off, leading to heavy liquidations across the crypto market.
According to Chairman Tom Lee, this event presented an ideal buying opportunity. “Volatility creates deleveraging, and this can cause assets to trade at substantial discounts to fundamentals,” he said. “This creates advantages for investors, at the expense of traders.”
By purchasing during a temporary price dip, BitMine demonstrated a disciplined investment approach common among top institutional investors. It also reinforced the view that blockchain-based assets like Ethereum continue to hold long-term value, even during short-term market turbulence.
Institutional investors drive Ethereum accumulation
BitMine’s trading volume reflects its growing relevance in traditional markets. With a five-day average daily volume of $3.5 billion, BitMine now ranks among the top 25 most traded U.S. equities. This increased attention highlights growing institutional interest in blockchain investments.
As Ethereum continues to serve as the foundation for decentralized applications and smart contracts, companies like BitMine are positioning themselves to benefit from future blockchain growth. Institutional investors understand that Ethereum’s role in powering decentralized finance, tokenization, and Web3 applications makes it one of the most vital assets in the crypto market.
BitMine’s acquisition strategy demonstrates confidence in Ethereum’s long-term fundamentals. The company’s decision to buy during volatile periods mirrors traditional value investing principles, signaling that blockchain-based assets are becoming part of standard corporate treasury strategies.
BitMine’s Ethereum holdings reflect rising institutional trust
BitMine’s 3 million ETH milestone shows that large-scale institutional accumulation is no longer exclusive to Bitcoin. As blockchain adoption grows, Ethereum’s unique utility continues to attract corporate and institutional capital.
With support from major financial players and a clear strategy for expansion, BitMine is shaping how the next phase of crypto market investment will unfold. Its bold target of owning 5% of Ethereum’s supply reinforces both its commitment and its belief that Ethereum will remain a core part of global digital finance.
