BitMine Immersion Technologies has taken a bold step closer to its goal of owning 5 percent of all Ethereum by aggressively buying the dip during a recent market crash, now holding over 3 million ETH valued at $13.4 billion.
Key Takeaways
- BitMine now holds more than 3.03 million ETH, representing over 2.5 percent of Ethereum’s total supply.
- The company added 202,037 ETH worth $827 million following a recent crypto market crash.
- BitMine’s total crypto, cash, and equity holdings now sit at $13.4 billion, solidifying its position as the largest ETH treasury holder globally.
- Despite criticism and a recent stock dip, BitMine’s stock remains among the top 25 most traded US stocks, with daily volume topping $3.5 billion.
What Happened?
BitMine Immersion Technologies (NYSE American: BMNR) capitalized on a major market pullback to significantly boost its Ethereum holdings. The company now holds over 3.03 million ETH, moving past the halfway point toward its ambitious goal of accumulating 5 percent of the total ETH supply.
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— Bitmine (NYSE-BMNR) $ETH (@BitMNR) October 13, 2025
BitMine provided its latest holdings update for Oct 13, 2025:
$12.9 billion in total crypto + “moonshots”:
– 3,032,188 ETH at $4,154 per ETH (Bloomberg)
– 192 Bitcoin (BTC)
– $135 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and
– unencumbered…
BitMine Buys the Dip
Over the weekend, following a sharp cryptocurrency market correction that wiped out $19 billion in value, BitMine made a strategic move. The company disclosed it had acquired 202,037 ETH at an average price of $4,154 per token, pushing its ETH holdings to a total of 3.03 million. This aggressive buy added roughly $827 million to its portfolio.
BitMine’s total holdings are now valued at $13.4 billion, including:
- 3.03 million ETH
- 192 Bitcoin
- $104 million in unencumbered cash
- $135 million stake in Eightco Holdings (NASDAQ: ORBS)
The Ethereum buying spree was confirmed in the company’s October Chairman’s Message, where Chairman Thomas “Tom” Lee said the move came in response to market volatility that caused “assets to trade at substantial discounts to fundamentals.” Lee added that BitMine is now more than halfway to achieving the “alchemy of 5 percent” ETH ownership.
Institutional Backing and Market Liquidity
BitMine’s crypto strategy continues to attract notable institutional investors, including ARK’s Cathie Wood, Founders Fund, Kraken, DCG, Galaxy Digital, and Tom Lee himself. The company claims leadership among crypto treasury peers in both the velocity of crypto NAV per share growth and stock liquidity.
According to Fundstrat research, BMNR is the 22nd most traded stock in the US, with a five-day average trading volume of $3.5 billion, placing it just behind Coinbase and ahead of UnitedHealth.
A Divisive Investment
Despite recent momentum, BitMine stock fell 11 percent over the past five days, driven in part by short-seller Kerrisdale Capital taking a position against BMNR. Kerrisdale criticized BitMine’s business model as being “on its way to extinction.” Still, investor enthusiasm has not waned, with BMNR surging over 11 percent on Monday alone, closing at $63.10 per share.
The company’s Ethereum thesis remains long-term. “We continue to believe Ethereum is one of the biggest macro trades over the next 10 to 15 years,” Lee emphasized, pointing to how AI and Wall Street adoption of blockchain technology are converging on Ethereum’s infrastructure.
CoinLaw’s Takeaway
In my experience, bold moves like BitMine’s usually divide the crowd. Some call it genius, others call it reckless. But what I find striking is how BitMine continues to buy when others are fearful. Scooping up over $800 million in ETH during a crash shows true conviction. The fact that they’re aiming for 5 percent of all ETH is not just ambitious, it’s game-changing. If Ethereum becomes the financial backbone of AI and Wall Street, BitMine might be sitting on one of the most valuable corporate treasuries of our time. I’m watching closely.
