The company’s $2 billion worth of ETH significantly outstrips the initial $250 million private investment, showing an over 700% increase.
BitMine currently possesses over 560,000 ETH.
The firm’s Ethereum treasury strategy aims to bolster the overall Ethereum ecosystem.
LAS VEGAS, July 24, 2025 /PRNewswire/ — (NYSE AMERICAN: BMNR) BitMine Immersion Technologies (“BitMine” or the “Company”) revealed today that its holdings in ETH have surpassed $2 billion. This milestone follows the closing of an initial private placement amounting to $250 million on July 8th, which was aimed at furthering its capital-efficient treasury strategy. As of July 23rd at 11:59pm ET, the company’s total ETH assets amounted to 566,776 units, priced at $3,643.752 per ETH, according to Bloomberg data.
Thomas “Tom” Lee of Fundstrat, Chairman of BitMine’s Board, commented, “Reaching over $2 billion in ETH holdings a mere sixteen days after the initial $250 million private placement is a great achievement for BitMine. We’re making significant progress towards our objective of acquiring and staking 5% of the total ETH supply.”
The company had previously indicated its key performance indicator would be increasing the amount of ETH held per share. This growth will be achieved through reinvesting company revenue, engaging in capital market activities (including leveraging volatility to reduce capital costs), and benefiting from staking yields. The total value of ETH held is directly impacted by price changes of ETH.
Jonathan Bates, CEO of BitMine, stated, “We are dedicated to the continued advancement of Ethereum and are excited to further develop our Ethereum treasury strategy.”
About BitMine
BitMine is a company heavily involved in the Bitcoin and Ethereum networks. Its primary focus involves accumulating Crypto assets for long-term investment, sourced both from its Bitcoin mining operations and through proceeds from capital funding activities. The company operates in several areas including Bitcoin Mining and synthetic Bitcoin mining through engagement in Bitcoin mining, hashrate as a financial product, providing advisory and mining services to businesses looking to generate Bitcoin-based income, and offering general Bitcoin advisory services to publicly traded companies. BitMine’s facilities are strategically located in Trinidad, Pecos, Texas, and Silverton, Texas, known for their affordable energy rates.
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Forward-Looking Statements
This press release incorporates predictions that constitute “forward-looking statements.” Any assertions within this release that are not strictly historical are considered forward-looking and carry inherent risks and uncertainties. Specifically, this document features forward-looking statements related to the progression and fulfillment of company objectives regarding ETH acquisition and staking, the sustained value of Ethereum, the ongoing development and benefits of the company’s Ethereum treasury strategy. Several factors should be considered when assessing these forward-looking statements, including BitMine’s capacity to adapt to technological advancements and evolving market conditions; the company’s access to capital for its current operations, Ethereum treasury activities, and future business ventures; the degree of competition within BitMine’s industry; and the future valuation of Bitcoin and Ethereum. Actual results and future performance outcomes may deviate significantly from those anticipated in these forward-looking statements. These statements are conditional upon a range of factors, many of which are outside BitMine’s influence. These include those listed under the “Risk Factors” heading within BitMine’s Form 10-K document filed with the SEC on April 3, 2025, along with all other SEC filings, as periodically amended or updated. Copies of BitMine’s submissions to the SEC can be found on their website at www.sec.gov. BitMine assumes no obligation to revise these statements based on new information or subsequent events after the release date, except where mandated by law.
SOURCE BitMine Immersion Technologies, Inc.