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BitMine Hits $1B in Ethereum Holdings

The Peter Thiel-backed miner led by Tom Lee is currently the top institutional holder of ETH.
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Jul 17, 2025 • 1 min read

BitMine Immersion Technologies has amassed more than 300,000 ETH—worth over $1 billion—cementing its position as a leading institutional treasurer of Ethereum and signaling Wall Street’s growing “ETH‑pilled” trend.

What’s the Scoop?

  • $1B ETH Treasury: The NYSE-listed firm now holds approximately 300,657 ETH, marking a jump from around $500 million just days ago.
  • Stock-Fueled Strategy: After raising $250 million via private placement and appointing Tom Lee as board chair, BitMine more than doubled its ETH stash—from ~163K to 300K ETH.
  • Institutional Validation: The move, alongside Peter Thiel’s 9.1% stake via Founders Fund, triggered stock rallies between 15–30%, reflecting investor confidence in its ETH pivot.
  • Staking Ambitions: BitMine targets staking up to 5% of the total ETH supply—using on‑chain yields to mirror the MicroStrategy model but with staking rewards.
  • Volatility Warnings: While ETH accumulation sparks enthusiasm, the company’s stock has seen sharp swings (e.g., +45% intraday), highlighting execution and market-risk challenges.

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