BitMine Expands Ethereum Treasury with $321 Million Purchase as ETH Rebounds

BitMine Immersion Technologies (NYSE American: BMNR) has deepened its bet on Ethereum, adding $321 million worth of ETH to its already massive holdings over the past week. The move comes as Ethereum prices rebound sharply from early-month lows, driving both the asset and BitMine’s stock higher.

With this latest purchase, BitMine now controls approximately 3.313 million ETH—currently valued at more than $13.8 billion—alongside 192 Bitcoin worth about $22 million and $305 million in cash reserves. The firm accumulated an additional 77,055 ETH during the week, solidifying its position as the largest Ethereum treasury holder in the world.

BitMine’s Ethereum dominance easily eclipses runner-up SharpLink Gaming (NASDAQ: SBET), which holds $3.58 billion in ETH, and places the company second overall in crypto holdings behind Strategy, whose Bitcoin trove exceeds $73 billion.

Ethereum’s recent momentum has mirrored broader crypto market strength, with ETH climbing around 3% in the past week and touching highs near $4,246 overnight. According to BitMine chairman Tom Lee, improving U.S.–China trade relations have helped ease market tensions that triggered a massive crypto deleveraging earlier this month.

“Trade progress between the U.S. and China is a net positive for Ethereum and digital assets overall,” Lee said, noting that risk sentiment has a strong influence on crypto performance.

Following the announcement and Ethereum’s weekend surge, BitMine shares jumped over 5% on Monday to trade at $53.15, marking a strong start to the week for both the company and its favored cryptocurrency.