BitMine Immersion has taken a bold step in the crypto space. The company now holds over 163,000 Ethereum, with a total value crossing $500 million. This move comes just days after closing a private placement round worth $250 million.
BitMine followed an aggressive strategy. It built its Ethereum holdings rapidly, more than doubling the value raised from investors. As of July 14, BitMine recorded each ETH at $3,072.67. The firm’s approach focuses on long-term accumulation of crypto assets.
It aims to strengthen its position in the Ethereum network. BTCS Inc. also revealed a major growth in its crypto holdings. It now holds 29,122 ETH. This marks a 221% jump compared to its year-end numbers in 2024. The company disclosed total digital and cash assets worth $96.3 million.
BitMine grows fast on the NYSE American
BitMine, listed on the NYSE American, continues to grow fast. It focuses on acquiring and holding Ethereum as part of its core strategy. The company also engages in Bitcoin mining. It runs operations in Texas and Trinidad, using low-cost energy sources.
The firm plans to use cash flows and market activity to increase its ETH per share. It may also use staking rewards to enhance returns. BitMine believes this model gives it long-term financial strength. Experts say such large holdings can impact broader market dynamics.
Some compare this to Bitcoin treasury strategies followed by major firms. They believe Ethereum treasuries could offer similar influence in the future. BitMine’s aggressive move signals a wider trend.
Ethereum takes center stage in investments
More firms are adding crypto to their balance sheets. Wall Street appears to be paying attention. Ethereum, often viewed as a key layer-1 blockchain, plays a central role in this shift. The company’s broader vision includes synthetic mining, hashrate products, and crypto advisory.
It supports clients looking to earn in Bitcoin. BitMine sees both mining and capital markets as core drivers of its growth. As of now, its Ethereum holdings rank among the largest by any publicly listed company.
This strengthens its position as a major player in the crypto investment space. BitMine expects its ETH-focused model to provide steady growth in a rapidly changing market.