BitMine Surpasses $2 Billion in Ethereum Holdings in Record Time

LAS VEGAS, July 24, 2025 /PRNewswire/ — BitMine Immersion Technologies (NYSE AMERICAN: BMNR) announced today that its Ethereum (ETH) holdings have exceeded $2 billion. This milestone follows the company’s initial private placement of $250 million completed on July 8, 2025, aimed at strengthening its asset-light treasury strategy.

As of July 23, 2025, BitMine’s total ETH holdings amounted to 566,776, with each ETH valued at approximately $3,643.75. This rapid growth of over 700% from the PIPE proceeds was noted by the company, signaling an aggressive strategy in cryptocurrency acquisition and staking.

Thomas ‘Tom’ Lee, Chairman of BitMine’s Board of Directors, expressed pride in this achievement, stating, “At BitMine, we surpassed $2 billion in ETH holdings, just sixteen days after closing on the initial $250 million private placement. We are well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply.”

CEO Jonathan Bates reaffirmed the company’s commitment to advancing its Ethereum treasury strategy, highlighting its potential to fortify the broader Ethereum ecosystem. He remarked that the company is invested in the long-term growth of Ethereum.

BitMine operates in low-cost energy regions, including Trinidad and parts of Texas, and focuses on both Bitcoin and Ethereum assets. The company’s business activities encompass Bitcoin mining, synthetic mining, and financial advisory services.

Despite its ambitious plans, BitMine acknowledges the challenges ahead, including market volatility and the competitive landscape of the cryptocurrency space. The company has stated that its objectives regarding ETH acquisition and staking remain contingent on various external factors.