BitMine’s 2% ETH Investment: The Catalyst of 5% Fuels Ethereum’s Broad Economic Transformation

BitMine Immersion Technologies (BMNR) has revealed that its

(ETH) assets now surpass 2.416 million coins, accounting for over 2% of the total in circulation. The company, which operates as a and Ethereum infrastructure firm with a focus on accumulating digital assets for the long-term, reported a combined crypto and cash balance of $11.4 billion as of September 21, 2025. This sum includes 2.416 million ETH, each valued at $4,497, 192 Bitcoin (BTC), and $345 million in unrestricted cash BitMine Immersion (BMNR) Announces ETH Holdings Exceed 2 [ 1 ]. has established itself as the world’s largest holder of ETH and is second only to MicroStrategy’s (MSTR) $74 billion in BTC when it comes to crypto treasuries BitMine Immersion (BMNR) Announces ETH Holdings Exceed 2 [ 1 ].

The company’s substantial ETH accumulation is part of its “Alchemy of 5%” plan, which targets controlling 5% of Ethereum’s supply. Thomas “Tom” Lee, BitMine’s chairman and managing partner at Fundstrat Global Advisors, highlighted that major ETH holders are poised to benefit from what he describes as Ethereum’s potential supercycle, fueled by blockchain adoption on Wall Street and AI-powered token economies BitMine Immersion (BMNR) Announces ETH Holdings Exceed 2 [ 1 ]. Lee pointed out that BitMine’s share price climbed from $38 at the start of August to above $61 by September 22, demonstrating investor trust in its treasury approach BitMine Immersion (BMNR) Announces ETH Holdings Exceed 2 [ 1 ].

Support from institutional investors remains a main driver for BitMine’s expansion, with groups like ARK’s Cathie Wood, Founders Fund, Kraken, and Galaxy Digital lending their backing BitMine Immersion (BMNR) Announces ETH Holdings Exceed 2 [ 1 ]. The company’s shares have become more liquid, averaging $3.5 billion in daily trading volume over the past five days, which places it as the 24th most traded stock in the U.S. as of September 21 BitMine Immersion (BMNR) Announces ETH Holdings Exceed 2 [ 1 ]. BitMine’s investor presentation, available on its IR site, details its treasury policies and “Moonshots” investments, including a $20 million position and $270 million private placement in Eightco Holdings (ORBS) BitMine Immersion (BMNR) ETH Holdings Exceed 2.069 Million [ 2 ].

The company’s ETH reserves have continued to rise, passing the 2 million mark in late August BitMine Immersion (BMNR) ETH Holdings Exceed 2.069 Million [ 2 ] and totaling 1.86 million ETH (1.5% of the total supply) by mid-September Bitmine Now Holds 1.86M ETH, About 1.5% of All Ether [ 3 ]. This growth demonstrates BitMine’s aggressive acquisition strategy, which Lee credits to Ethereum’s long-range macro prospects BitMine Immersion (BMNR) Announces ETH Holdings Exceed 2 [ 1 ]. The company’s financial strategy is supported by minimal debt and fully unencumbered assets, with all ETH bought using cash Bitmine Now Holds 1.86M ETH, About 1.5% of All Ether [ 3 ].

Market analysts point to regulatory shifts, such as the GENIUS Act and SEC’s Project Crypto, as key factors fueling Ethereum’s expansion, drawing parallels to the U.S. dollar’s separation from gold in 1971 in terms of revolutionary financial impact BitMine Immersion (BMNR) Announces ETH Holdings Exceed 2 [ 1 ]. BitMine’s emphasis on Ethereum reflects industry-wide momentum, with ether treasuries now valued at $13 billion and institutional involvement accelerating Bitmine Now Holds 1.86M ETH, About 1.5% of All Ether [ 3 ].

BitMine’s foray into “Moonshot” projects, including its calculated investment in Eightco, signals its broader commitment to strengthening the Ethereum ecosystem. The company dedicates around 1% of its balance sheet to ventures like

(WLD), an ERC-20 asset that utilizes zero-knowledge proofs for identity verification BitMine Immersion (BMNR) ETH Holdings Exceed 2.069 Million [ 2 ]. Lee asserts that these efforts boost Ethereum’s relevance as AI becomes increasingly integrated into society, where mechanisms for trust and safety become vital BitMine Immersion (BMNR) ETH Holdings Exceed 2.069 Million [ 2 ].