#BitMine $ETH Holdings Reach 2% of Total Supply


Tom Lee-chaired BitMine Immersion has accumulated over 2.4 million $ETH, representing more than 2% of #Ethereum's circulating supply following recent acquisitions. The company has purchased approximately 264,378 ETH worth $1.1 billion since its Sept. 15 update.


BitMine now holds 2,416,054 $ETH valued at around $10.1 billion, alongside 192 $BTC, a $175 million stake in treasury firm Eightco, and $345 million in cash. Total #crypto and cash holdings reached $11.4 billion according to Monday's announcement.


The Nasdaq-listed company leads all public $ETH treasury holders, followed by Joe Lubin's SharpLink with 838,150 ETH and The #EtherMachine with 495,360 $ETH. BitMine ranks as the second-largest public crypto treasury overall behind Strategy's $72.1 billion Bitcoin holdings.


BitMine announced a $365.24 million registered direct offering, selling 5.2 million shares at $70 each, representing a 14% premium above Friday's closing price. Additional warrants could generate $913 million if exercised, pushing total potential proceeds to approximately $1.28 billion.


Chairman Tom Lee emphasized the offering's accretive nature for existing shareholders, with proceeds primarily funding additional $ETH acquisitions. The premium pricing reflects strong institutional investor interest and confidence in BitMine's execution strategy.

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September 22, 2025 at 7:38 PM
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