Bitmine Boosts Ethereum Treasury to 5.78M ETH, Valued at $11.3 Billion

Bitmine has expanded its Ethereum treasury with the purchase of 9,946 ETH, lifting total holdings to 5,787,414 ETH worth about $11.3 billion at current prices. The company says the position represents nearly 4.8% of Ethereum's circulating supply, placing it among the largest corporate holders of Ether. Chairman Tom Lee said Bitmine has bought ETH every week since the treasury strategy launched in late June 2025. The latest purchase topped the prior week's 7,430 ETH, indicating a faster accumulation pace despite ongoing market volatility. The move reflects a broader shift among public companies looking beyond Bitcoin and treating Ethereum as a strategic treasury asset, supported by its growing role in decentralized finance, tokenization, and staking. Ethereum has also recently outperformed Bitcoin on a relative basis, with the ETH/BTC ratio strengthening—a trend many investors view as evidence of rising institutional comfort with larger Ethereum allocations. Bitmine also continued its capital return program, repurchasing 6.1 million common shares over the past week, up from 5.5 million in the previous period. Management attributed the larger buyback to improving crypto market conditions and pointed to Ethereum's relative strength even as uncertainty persists around potential U.S. crypto legislation, including the Clarity Act. The company said these signals align with its long-term capital allocation and digital asset strategy.